Shares in the Asia-Pacific region jumped after returning to Wall Street as oil rose to a two-year high as investors reassured signals that the Federal Reserve would continue to help the economy recover from the coronavirus.
Japan’s Topix rose 2.4 percent and Australia’s S&P / ASX 200 rose 1.2 percent during trading in the region on Tuesday. The Shanghai-Shenzhen CSI 300 Index of Shares in China rose 0.3 percent.
The steps followed a bounce for US stocks The S&P 500 closed 1.4 percent higher on Monday. US Shares: fell last week After the Federal Reserve focused on a more comprehensive tone, there were fears that rising interest rates could hamper the recovery of the global economy.
But market sentiment on Monday prompted further outrage from Fed officials, including President Chair Powell, who said in a statement issued ahead of a congressional hearing on Tuesday that the central bank would “do all it can to support the economy as long as it lasts.” to complete the recovery. “
So does John F. Williams, chairman of the Federal Reserve Bank of New York he said on Monday that the US economy is not yet ready for the central bank to start withdrawing its huge financial support.
Jean-Anne Boywin, head of the BlackRock Investment Institute, said “the new Fed forecasts will not soon turn into significantly higher policy rates.”
“We can see areas of market instability,” he said. “But we advocate staying in the investment, going through any mess,” Boyvin added.
Futures on the S&P 500 rose 0.1 percent during Asian trading on Tuesday and rose 0.2 percent on the London-based FTSE 100.
Commodity prices, which rolled last week amid concerns about the global economic outlook, also rose. For the first time since April 2019, the international Brent crude oil benchmark has grown by 0.1% to $ 75 per barrel.
Brent more than 50 percent this year, highlighting the high demand ahead of next week’s Opec + meeting.
Bitcoin stabilized after responding to a sharp decline warning The People’s People’s Bank of China on Monday said that the country’s state-owned banks և payment platforms «should ‘explore և disclose’ cryptocurrency trading accounts և block all such transactions.
Asian currency traded up 0.2 percent at $ 32,635, but continued to fall more than 7 percent this month.
Bond markets stabilized after Monday’s reversal of yields on higher prices as investors relinquished public debt security and became stocks. Yields on the 10-year US Treasury fell 0.02 percentage points to 1.474 percent.