Asian Stocks Remain Up as China Selloff Continues – Asia Market Wrap
Asian equities delayed their advance as a selloff in Chinese stocks worsened, undermining earlier hopes for Fed policy easing following dismal US job openings data.
MSCI’s regional stock index rose 0.1% after reaching a high of 0.7%. Equity index futures for the S&P 500 and Nasdaq 100 both rose. Treasuries and the dollar remained stable. Oil fell, and gold retreated after seven days of advances.
Japanese bond futures rose after a closely watched auction of 30-year government bonds met demand that was generally consistent with the 12-month average.
Investors in Japan heaved a sigh of relief after the 30-year government bond auction alleviated demand fears following a worldwide debt selloff. Traders were also concerned that the sale would be difficult given domestic political instability and questions about debt sustainability.
Meanwhile, borrowers from all over the world are flooding the bond market, with more than $128 billion sold this week alone, and investors are lining up to buy the new debt.
