Where Your Speech Is Free And Your Comment Is King - Post A Link

THE NEWS COMMENTER

VOTE  (0)  (0)

Asia Stocks Extend Week's Climb; Yuan Holds Gain: Markets Wrap


Added 01-10-19 09:04:07pm EST - “Shares in Tokyo led the region, with trading in Hong Kong, South Korea and Australia mostly flat. Fed Chairman Jerome Powell underscored the message of patience with further interest-rate hikes, while saying the central bank will…” - Finance.yahoo.com

CLICK TO SHARE

Posted By TheNewsCommenter: From Finance.yahoo.com: “Asia Stocks Extend Week's Climb; Yuan Holds Gain: Markets Wrap”. Below is an excerpt from the article.

(Bloomberg) -- Asian equities posted modest gains Friday and were on course for the strongest week since early November, bolstered by continued signs of flexibility from the Federal Reserve and optimism over U.S.-China trade negotiations. The yuan held near its strongest since July.

Shares in Tokyo led the region, with trading in Hong Kong, South Korea and Australia mostly flat. The S&P 500 earlier extended its rally since Christmas Eve past 10 percent, though gains were limited as retailers sank amid concerns about a sales slowdown. Fed Chairman Jerome Powell underscored the message of patience with further interest-rate hikes, while saying the central bank will keep shrinking its balance sheet to a more normal level -- a remark that sparked an intraday slide in stocks. Later, Vice Chair Richard Clarida said any sustained headwinds to the U.S. economy should be offset by policy.

Equities are rallying around the world as signs of progress between the world’s two biggest economies and dovish commentary from the Fed help lift sentiment that took a battering late in 2018. Still, worries remain about economic growth and earnings prospects.

“Markets are ultimately waiting to see if Fed’s new rhetoric related to stepping back, does it translate to action, and does the Fed actually pause at some point,” Dan Skelly, head of equity model portfolio solutions at Morgan Stanley, told Bloomberg TV in New York. “That’s really what we are waiting for to see a sustained move higher” in stocks, he said.

Elsewhere, oil remained above $52 a barrel despite slipping in early Friday trading. It’s up about 9 percent this week.

Read more...

Post a comment.

CLICK TO SHARE

COMMENTS VIA TWITTER






BACK TO THE HOME-PAGE