(Bloomberg) – Asian stocks won Thursday and were on track to clear this year’s decline as the global stock rally that has driven stocks continued since March. The dollar weakened
Shares increased in Japan, South Korea and China. In Hong Kong, Tencent Holdings Ltd. advanced after the tech giant ousted the Trump administration’s WeChat ban and estimated its results. Australian equities have underperformed as earnings at some companies disappointed. S&P 500 contracts did not change much after the benchmark currently peaked its peak in February, leaving the more than 50% rally since the market’s lows in March. Gold’s progress again.
Stock markets around the world are recovering losses, triggered by the first onset of the global pandemic, although investors continue to bank on further incentives and Federal Reserve speakers sound more urgent on the need to protect an emerging recovery. Dallas Fed President Robert Kaplan called on officials to push harder for adhering to protective behavior and said expanding unemployment benefits is “critical” to growth.
“The main force driving markets in recent weeks has really been momentum,” said Kevin Caron, portfolio manager for Washington Crossing. “We have a market that is focused on the good outcome of the case for the virus, we have a market that has taken a lot of comfort in that fiscal policy there will be to support an economy through difficult times . “
Elsewhere, oil was stable after rising earlier on signs of improving demand.
Here are some important events to come:
China will release a lot of data on Friday, July, including industrial production and retail sales.
These are the main movements in markets:
Shares
S&P 500 futures did not change much from 9:25 a.m. in Hong Kong. The index rose 1.4% on Wednesday. Hong Kong’s Hang Seng rose 1%. Shanghai Composite added 0.3%. The Japanese Topix index advanced 0.9%. Kospi of South Korea climbed 0.6%. Australia’s S & P / ASX 200 index slipped 0.4% .Eur Stoxx 50 futures fell 0.3%.
Currency
The yen was up 106.69 per dollar, up 0.2%. The offshore yuan traded at 6.9317 per dollar. The Bloomberg Dollar Spot Index fell 0.2%. The euro bought $ 1.1809, up 0.2%.
Bonds
The yield on Treasury of 10 years was at 0.66%.
Commodities
West Texas inter-intermediate crude dipped 0.2% to $ 42.57 per barrel. Gold was at $ 1,938.35 per ounce, up 1.2%.
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