Japan’s shares rose, ending a two-day losing streak, while equities fell in South Korea and Australia. Contracts for the S&P 500 fell, with US markets shut Monday. A gauge of global equities traded flat in a sign the rally that’s pushed it to the best start to a year since 1988 has stalled.
since the 1970s as Covid restrictions hammered activity. But better-than-forecast fourth quarter and December data add to optimism it may be primed for a recovery.on the recovery are Goldman Sachs Group and UBS Group AG as the resumption of activity in China promises to unleash over $836-billion of excess savings, and may help ease fears of a global downturn as other central banks continue to tighten policy.
“A reversal of a policy correction trade is likely to occur ahead of the results of the BOJ decision meeting announcement tomorrow,” said Hideyuki Ishiguro, senior strategist at Nomura Asset Management. “There was yen-buying and a selling of the Nikkei against the backdrop of policy revisions, but this morning the yen’s appreciation will take a breather, and there could be a yen selling and a buying of Nikkei futures.
Earnings reports from Goldman Sachs and Morgan Stanley due on Tuesday will provide guidance about the health of the global economy. Financial companies dominate the docket of fourth-quarter results this week and include Charles Schwab Corp, PNC Financial Services Group and State Street Corp.
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