Investors were anxious to see how shares in Alibaba Group Holding Ltd fared after China slapped a record 18 billion yuan fine on the e-commerce giant.— Reuters picSYDNEY, April 12 — Asian shares started cautiously today as investors wait to see if US earnings can justify sky-high valuations, while bond markets could be tested by what should be very strong readings for US inflation and retail sales this week.
Reverberations could be felt beyond China as over a third of the stock is held by US investors, and given the stock making up more than 8 per cent of the MSCI EM index.“Ever since the Ant IPO was cancelled and with the antitrust laws in the pipeline, the market has expected that Alibaba would pay a price,” said Louis Tse, managing director at Wealthy Securities in Hong Kong.
“Given the pace of the economic recovery and the Fed’s apparent unwillingness to stand in the way of higher yields, we think long-term yields will rise again before long,” he said. Over the weekend, Federal Reserve Chair Jerome Powell said the economy was about to start growing much more quickly, though the coronavirus remained a threat.
“And the composition of that growth is likely to be more skewed towards those sectors than it might have been during a typical economic expansion.”
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Herkunft: malaymail - 🏆 1. / 86 Weiterlesen »