Tuesday, 23 Jun 2020 11:07 AM MYT
MSCI’s broadest index of Asia Pacific shares outside of Japan rose 0.72 per cent to 517.1 points after earlier going as low as 509.9. Chinese shares regained lost ground too, with the blue-chip index last up 0.38 per cent. Trump also soothed nerves when he tweeted: “China trade deal is fully intact. Hopefully they will continue to live up to the terms of the agreement.”
Ord Minnett investment advisor John Milroy said equity market sentiment was positive despite ongoing bursts of volatility across regional markets. “It’s worth nothing our clients here have been net buyers since the depths of market despair,” Milroy told Reuters from Sydney. “The saving grace for markets is liquidity, which is in abundance and will offer a backstop as the bulls and bears stage a tussle and cause market volatility,” said Vasu Menon, Singapore-based senior investment strategist at OCBC Bank Wealth Management.“So expect markets to be very bumpy in second half of this year because of the double whammy from Covid-19 and US-China tensions.”
In the Asian afternoon trading session, the safe-haven yen slipped against the dollar to 107.13, while the euro was a shade higher at US$1.1266 .
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