Asia-Pacific equities fail to justify market’s fears of Covid, Russia-Ukraine tussles amid year-end inaction.Hopes of easy rates in 2023, economic recovery keep stocks on the bull’s desk amid sluggish yields.grind higher as traders brace for a positive close to the volatile 2022 during the last trading of the year. While portraying the mood, the MSCI’s index of Asia-Pacific shares outside Japan rises nearly half a percent whereas Japan’s Nikkei 225 remains sluggish by the press time.
Bank of Japan’s third consecutive day of bond market action joins the mixed sentiment to keep the Yen as the market’s favorite and probe the Nikkei 225. On the other hand, the hopes of a peak in the virus numbers in China and the discovery of an anti-Covid pill favor equity market optimism in Australia and China.
Wall Street closed higher after mixed US data pushed back hawkish Fed expectations amid an absence of Fedspeak. That said, US Initial Jobless Claims rose 225K versus 216K prior for the week ended on December 24 while the Continuing Jobless Claims increased by 1.71M from 1.669M previous readout during the week ended on December 16. However, the 4-week moving average for the same dropped to 221K versus the revised down previous readings of 221.25K.
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Source: MarketWatch - 🏆 3. / 97 Read more »
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