Asian Stocks Rise Boosted by Wall Street Gains: Asian markets witnessed a notable rise,
supported by gains made by Wall Street and the halting of bond sales that had driven 10-year bond yields higher.
Traders are closely monitoring economic developments and political directions in the United States,
especially with President-elect Donald Trump’s upcoming assumption of office.
Contents
Performance of Asian Markets
Investor Evaluation and Stimulus Expectations
U.S. Markets Impact
Bond Performance and Australia
Bitcoin Movements
Oil and Gold Prices
Developments in the U.S. Administration
Performance of Asian Markets
Asian stocks rose following solid gains in U.S. indices.
The MSCI regional index rose to 0.7%,
supported by gains in Japan, South Korea, China, and Australia.
The Nasdaq 100 also posted gains,
with Tesla shares climbing by 5.6% based on reports that Trump’s transition team plans
Establishing a federal framework for fully autonomous vehicles is a priority for the Department of Transportation.
Investor Evaluation and Stimulus Expectations
Asian investors are assessing whether markets in China and Hong Kong
can maintain the rebound seen after last week’s sell-off.
Anticipation is increasing around stimulus plans and government directives to bolster corporate valuations.
U.S. Markets Impact
Frederic Neumann, Chief Asian Economist at HSBC Holdings Plc,
noted that Asian equity markets benefit from improved market sentiment in the U.S.,
lower U.S. interest rates provide some relief to risk assets across the region.
Bond Performance and Australia
Treasury bonds showed little change in Asian markets following a decline in 10-year yields in U.S. trading.
The central bank continues its monetary policy in Australia to control inflation,
with the Australian dollar and three-year sovereign bond yields declining.
Bitcoin Movements
The S&P 500 and Nasdaq 100 indices climbed,
driven by continued U.S. economic growth expectations.
Meanwhile, Bitcoin surged above $91,000 in Asian trading,
supported by positive developments in the United States.
Oil and Gold Prices
Oil prices remained relatively unchanged following a rise amid escalating geopolitical tensions.
West Texas Intermediate crude settled above $69 per barrel
after the U.S. permitted Ukraine to use long-range missiles within Russia, intensifying tensions.
Gold extended its gains, with Goldman Sachs reiterating its forecast of prices reaching $3,000 per ounce next year.
Developments in the U.S. Administration
Trump’s transition team plans to nominate prominent economic figures to key government positions.
Separately, the U.S. Department of Justice is seeking historic actions against Google,
reflecting the impact of technology and U.S. policies on global markets.
Asian Stocks Rise Boosted by Wall Street Gains