Asian shares rose on Tuesday as hopes for stimulus in major economies tempered a...
TOKYO - Asian shares rose on Tuesday as hopes for stimulus in major economies tempered anxiety about a global recession, boosting riskier assets and drawing money from safe-havens such as bonds and gold.
In early European trade, the pan-region Euro Stoxx 50 futures were flat, German DAX futures were up 0.04%, and Britain’s FTSE futures were 0.03% higher. The immediate focus shifts to the minutes of the U.S. Federal Reserve’s last meeting due on Wednesday. Traders are also keenly waiting on the Fed’s Jackson Hole seminar and a Group of Seven summit this weekend for clues on what additional steps policymakers will take to bolster growth.
“There are expectations for looser monetary policy everywhere in the world, and this is cushioning the markets against recent uncertain developments,” said Masayuki Kichikawa, chief macro strategist at Sumitomo Mitsui Asset Management Co in Tokyo. China set its new one-year Loan Prime Rate at 4.25%, down 6 basis points from 4.31% previously. It was 10 basis points lower than the People’s Bank of China’s existing benchmark one-year lending rate.China benchmark rates and LPR -Chinese shares initially fell at the open but recovered to trade up 0.16%. Stocks in Hong Kong see-sawed, but last traded up 0.1%.
Markets overwhelmingly expect the Fed to cut rates again at its Sept. 17-18 policy meeting from the current 2.00%-2.25%. The Fed cut rates in July for the first time in a decade to mitigate the effects of the U.S.-China trade row and a global slowdown.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Head in the Clouds: Rich Brian, K-Pop Group IKON at ‘Asian Coachella’Asian artists like IKON, richbrian, sushitrash and more took the stage for the second annual Head in the Clouds festival this past weekend
Read more »
Asia stocks rise as stimulus, policy hopes calm nervous investorsAsian stocks rose on Monday as hopes of more stimulus from central banks around ...
Read more »
Asia stocks set to trade mixed as Treasury yields bounce higherStocks in Asia were set to trade mixed on Monday as U.S. Treasury yields bounced higher after plunging last week which sent markets into a panic.
Read more »
Thailand asks tech firms to set up centers against 'fake news' in Southeast AsiaThailand is proposing that tech companies set up centers in each of the 10 South...
Read more »
Asia stocks advance as China's rates tweak improves investor moodAsian stocks rode a Wall Street rally on Monday and were also cheered by a decis...
Read more »
Shell debuts electric vehicle chargers in Singapore, first in Southeast AsiaRoyal Dutch Shell is launching electric vehicle chargers at petrol stations in S...
Read more »