Asia stocks rise on hopes regional central banks hold steady on rates

A passerby walks past an electric monitor displaying various countries' stock price index outside a bank in Tokyo, Japan on March 22.LONDON - World stocks rallied on Tuesday , as traders held on to hope that interest rates will soon peak and come down later this year, even if latest US jobs data supported the case for a May hike from the Federal Reserve.

South Korea's central bank held rates steady for a second consecutive meeting on Tuesday, while the Bank of Canada is expected to leave rates unchanged when it meets on Wednesday. Traders still price in rate cuts by year-end as the economic growth outlook weakens, exacerbated by banking turmoil. The dollar eased 0.3 per cent to 133.18 yen , after jumping 1.1 per cent on Monday. The euro was 0.3 per cent firmer at US$1.089 , while sterling rallied 0.35 per cent.

Japanese government bond yields mostly fell, after new Bank of Japan Governor Kazuo Ueda vowed to maintain the bank's ultra-loose monetary policy.

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Asia stocks rise on hopes regional central banks hold steady on ratesHONG KONG : Asia stocks posted gains on Tuesday, boosted by investor optimism that the region's central banks will continue to pause or end interest rate hike cycles, whatever action the U.S. Federal Reserve takes. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.6 per cent as trading resum
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »