Asian equities rally

Asian equities rally

On Wednesday, Asian stocks grew, while US Treasury yields as well as the greenback got a lift after a report that Republican senators considered John Taylor to be the next Fed Chair.

European stock futures STXEc1 slumped 0.2%, while Dax futures lost 0.2% too. As for CAC 40 futures, they decreased a bit.

MSCI's index of Asia-Pacific equities recovered from early sluggishness and jumped 0.1%.

However, Japan's Nikkei stock index N225 erased revenues and dipped 0.5%, thus confounding a record 16 straight session of profits, which had continued after the win of Prime Minister Shinzo Abe's coalition in the election on Sunday powered traders’ hopes that his policy would keep the Japanese yen weak enough.

Notwithstanding Wednesday's stock weakness, Shinzo’s victory is expected to have overseas investors reassured. They had been concerned over policy continuity. As a result, fresh money will most likely enter the Tokyo market, as market experts point out.

Meanwhile, China's blue-chip CSI300 index edged up 0.3%, the Shanghai Composite Index soared 0.2%.

 

 

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