By Wayne Cole SYDNEY (Reuters) - Asian markets held their breath on Monday as investors waited to see how serious Beijing was about policy easing via ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSSYDNEY - Asian markets held their breath on Monday as investors waited to see how serious Beijing was about policy easing via widely expected rate cuts, having so far sorely disappointed with its stimulus steps.
Investors, however, would prefer massive fiscal spending to minor rate cuts and there is little sign of that as yet. The caution kept MSCI's broadest index of Asia-Pacific shares outside Japan near flat, having slid 3.9% last week to its lowest for the year so far.S&P 500 futures were 0.1% firmer, while Nasdaq futures added 0.2%. Earnings from AI-darling Nvidia on Wednesday will be a major test of valuations.
Analysts at Goldman Sachs, meanwhile, argue there is still scope for investors to add to equity positions. Early Monday, yields were holding at 4.253% and a break above 4.338% would take them to levels not seen since 2007. "Even so, we would be surprised if he provided specific guidance, with key August prints for employment, CPI and retail sales all to come before the September meeting."
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