As China Rebounds on Policy Assistance as Asian Stocks Rise – Asia Market Wrap
Asian equities crept higher, led by a rise in heavyweight Samsung and gains in Chinese stocks on new hints of governmental support.
A major indicator of the region’s equities increased 0.2%, helped by Samsung’s leap after South Korea’s largest company unveiled a surprise stock repurchase program. Shares in Hong Kong and mainland China rose as the country’s securities regulator urged listed companies to increase their stock returns.
The improved mood in Korea and China helped to offset losses in neighbouring markets such as Japan and Taiwan, where concerns remained over Trump’s possibly inflationary economic plans and Friday’s positive US retail sales data, which dampened hopes that the Fed will cut interest rates.
US market futures also gained after the S&P 500 fell 1.3% on Friday, wiping out more than half of its gains since the US election.
Oil rallied following a weekly dip on fears about abundant supply and lower demand from China, the world’s largest petroleum importer. Gold rose after its biggest weekly slide since 2021, as the dollar fell and speculators assessed the prospects for Fed rate cuts.
