Asian Stocks Completely Recover From Drop Last Week- Asia Market Wrap

Asian stocks climbed, recouping their losses from last week’s sell-off, aided by an increase in Japanese shares.

Japan’s shares rose after a holiday, as a weaker Yen was considered as beneficial to exporters. MSCI’s Asia-Pacific index climbed as much as 1%. That wiped losses from last week’s plunge, when a risk-off move sent global indexes falling and the VIX US volatility index reaching 65 at one point, compared to a lifetime average of roughly 19.5.

Stocks in Hong Kong and mainland China varied, as moods remained gloomy after Chinese share transactions fell to their lowest level in more than four years. US market futures edged higher ahead of inflation data due later Tuesday and Wednesday. Treasuries maintained Monday’s advances.

Oil remained near the $80 level it reached on Monday, as the US saw an Iranian attack on Israel as increasingly possible. Fitch Ratings downgraded Israel’s national debt by one notch, maintaining a negative outlook on the rating as the country’s public finances are strained by ongoing military combat.