An employee passes share price information displayed on an electronic ticker board inside the London Stock Exchange. File photo: BLOOMBERG via GETTY IMAGES/LUKE MACGREGOR
Still, investors say the backdrop for equities remains uncertain as central banks raise interest rates — the Bank of England is expected to hike again on Thursday — and another jolt higher in oil prices adds to inflationary worries.Lunar New Year holidays made for thin conditions and MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.73% in slow trade.The MSCI World index, while higher on Monday, remains down more than 6% in January — the worst start to the year since 2016.
Data out on Sunday showed China’s factory activity slowed in January as a resurgence of Covid-19 cases and tough lockdowns hit production and demand. Brent rose 0.68% to $90.64 a barrel, not far from Friday’s high of $91.7, while US crude climbed 0.89% to $87.06.Government bond yields held steady as the rebound in stocks limited demand for the safe-haven assets. Yields have jumped this year in anticipation of a faster rate of rate rises in 2022 but the rally in longer-term yields has paused in the past week.
Big data releases this week include the ISM readings on manufacturing and services, and the January jobs report.
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
LUKANYO MNYANDA: Fed at centre of global financial market turmoilThe US Federal Reserve has long dropped the idea that inflation is ‘transitory’ but is seemingly not clear on what it should do
Source: BDliveSA - 🏆 12. / 63 Read more »
Source: dailymaverick - 🏆 3. / 84 Read more »