Emerging markets: Singapore and Malaysia outperform all as Asian stocks hit by inflation worries

  • 📰 staronline
  • ⏱ Reading Time:
  • 30 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 15%
  • Publisher: 75%

Business News News

Business Business Latest News,Business Business Headlines

Earlier on Monday, Asian shares were broadly higher after the mammoth US stimulus bill cleared the Senate over the weekend, boosting optimism about the global economic recovery.

Equity markets in China and the Philippines fell more than 1.5%, while in South Korea they were about 1% lower.

Broadly, rising prices had already been on investors' minds, pushing US bond yields higher and keeping pressure on Asia's bond markets and equity valuations. "We are likely nearing a point when higher oil prices become a negative rather than a positive influence over risk assets via the inflation throughput to higher yields."

South Korea's won fell 0.6%. On the other end, Singapore stocks jumped 2% to their highest in more than a year, led by a rally in Jardine Strategic and Jardine Matheson, which climbed nearly 20% and 14%, respectively.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines