Asian Stock Markets : Investors are optimistic as Asian stock markets near a 16-month high. Investors are confident in the global economy despite data concerns. The dollar rose vs. the yen after the Bank of Japan changed yield curve regulation.
The dollar has risen against the yen for the first time in three weeks due to confusion over the Bank of Japan‘s yield curve control move and its impact on monetary policy. After the RBA held rates, the AUD fell. The Australian dollar dropped after the Reserve Bank of Australia kept interest rates unchanged and suggested possible economic tightening.
MSCI’s broadest measure nears its April peak. The MSCI Asia-Pacific Shares Index is rising and reached its highest point since April last year on Monday. Japan’s Nikkei benefits from a cheaper yen, and US E-mini stock futures indicate a slight advance after the S&P 500’s gain last night.
China’s pandemic response has gained attention despite the industry’s slowdown. China’s slow pandemic recovery is gaining attention as manufacturing declines beyond expectations, despite rising prices in Europe. China’s industrial production is declining.
Hong Kong’s Hang Seng Index falls as traders profit. Hong Kong’s Hang Seng is almost unchanged. Sellers are taking profits from the previous day, causing the property subindex to drop by 1.47%.
A 10-year note offering had low interest. The yield remains around 0.6% as few people purchase 10-year notes at auction, well below the new ceiling of 1%. The Reserve Bank devalued the AUD. After the Reserve Bank held their stance for a second meeting, the Australian dollar fell 0.9% to $0.66575, surprising the market.
Oil stayed near a three-month high. Oil is near an all-time high, not seen in three months. World supply is tightening, but US demand remains high. Brent Crude Futures closed near April 13 peak. October Brent crude oil futures prices near April 13 peak. This boosts oil market confidence. The WTI crude oil price has increased since April 14