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Japan’s markets have closed, with the country’s 10-year government bond yield easing to around 0.6%. This pause in the recent rally comes as hopes for the Bank of Japan to end its negative interest rate policy this year have diminished following the New Year’s Day earthquake, which raised concerns about the economic outlook.
China’s markets have seen a decline of 1.42%, with the bankruptcy of China’s ‘wealth manager’ Zhongzhi amid a property market collapse. Traders are closely watching Chinese trade and inflation figures this week, as well as fourth-quarter GDP data next week, to gauge the health of the world’s second-largest economy.
Hong Kong has experienced a 2.04% decline, while India’s SENSEX has seen a decrease of 0.52%. In Australia, investors are cautiously awaiting inflation data this week for further clues on the Reserve Bank of Australia’s next policy moves, as the markets have seen a decrease of 0.50%.
In the U.S., all three major indexes ended slightly higher on Friday as traders assessed the latest economic data and the future path of U.S. monetary policy. U.S. stock futures have held steady on Monday after Wall Street snapped a nine-week winning streak, with investors looking ahead to inflation data and big bank earnings this week. The Dow saw a 0.34% decrease, the S&P 500 a 0.04% decrease, and the Nasdaq a 0.01% decrease.
Furthermore, markets are anticipating U.S. inflation figures this week for further clues on the path for Fed monetary policy. Amidst this, escalating geopolitical tensions in the Middle East continue to support oil prices.
Currencies: (JPY:USD), (CNY:USD), (AUD:USD), (INR:USD), (HKD:USD), (NZD:USD).
Insights on Asia
