Stocks hold gains on easing Fed taper worries as Powell speech awaited | Malay Mail

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HONG KONG, Aug 25 — Asian shares held onto their recent gains today after last week’s pummelling, as global equities rebounded thanks to a combination of positive Covid-19 vaccine news and easing worries over tapering of Federal Reserve stimulus. MSCI’s broadest index of Asia-Pacific shares...

HONG KONG, Aug 25 — Asian shares held onto their recent gains today after last week’s pummelling, as global equities rebounded thanks to a combination of positive Covid-19 vaccine news and easing worries over tapering of Federal Reserve stimulus.

Japan’s Nikkei were flat. A Reuters poll of analysts and fund managers showed Japanese shares are expected to recover from their eight-month low marked on Friday to near a 30-year high by the end of this year. The Hong Kong benchmark jumped nearly 1 per cent on opening but was last down 0.5 per cent, after posting its best day in a month the day before as the market pulled further away from last week’s finish of its lowest close for this year.

“How it progresses from here, I don’t think is as much about China and Asia but what the US does. If it’s a benign scenario out of Jackson Hole I think you’ll definitely see China mean revert,” he said. The yield on the benchmark 10-year Treasury notes rose to 1.3019 per cent, their highest since August13.

 

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Global stocks, US yields gain ahead of Fed chair Powell’s Jackson Hole speech | Malay MailNEW YORK, Aug 25 — Global equity markets and US Treasury yields rose yesterday as positive US vaccination news lifted sentiment, and as investors grew less worried the Federal Reserve was set to announce a timetable for tapering stimulus measures. Fed Chair Jerome Powell is to speak on Friday at...
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