简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
Abstract:Asian stocks crept higher on Monday as markets gauged the potential fallout from a banking crisis in the U.S., while Chinese indexes outperformed as the government promised more support for the economy.
Asian stocks crept higher on Monday as markets gauged the potential fallout from a banking crisis in the U.S., while Chinese indexes outperformed as the government promised more support for the economy.
China‘s Shanghai Shenzhen CSI 300 and Shanghai Composite indexes rose about 0.8% each, while Hong Kong’s Hang Seng index rallied over 2% after new Premier Li Qiang sought to reassure the private sector with the promise of easier policies, and that the government will ensure that its annual economic projections are met.
Li's appointment comes as Xi Jinping is officially elected President for a third consecutive term. The president also retained his top ministers of finance and commerce, including People's Bank Governor Yi Gang. The move helped reassure investors that China's post-COVID reopening is likely to go ahead, potentially triggering an even bigger economic renaissance this year. But readings on the economy so far paint a mixed picture of the recovery.
The move helped reassure investors that Chinas post-COVID reopening will likely remain on course, potentially heralding a bigger economic bounceback this year. But readings on the economy have so far painted a mixed picture of a recovery.
Still, Chinese property stocks slumped after heavyweight Country Garden Holdings Company Ltd (HK:2007) warned of a bumper loss in 2022, due to a downturn in the sector.
While a Chinese recovery bodes well for broader Asian markets, markets were largely focused on a brewing banking crisis in the U.S., following the collapse of Silicon Valley Bank (NASDAQ:SIVB) and its seizure by regulators.
U.S. regulators intervened over the weekend to reassure markets and stem a bigger fallout from the collapse.
But the prospect of more ructions in the U.S. banking sector saw markets pricing in a greater chance that the Federal Reserve will taper its hawkish rhetoric in the coming months. Most Asian stocks advanced slightly on this notion, with technology-heavy bourses such as South Koreas KOSPI and the Taiwan Weighted index adding 0.3% and 0.2%, respectively.
Fed Fund futures showed a greater chance that the Fed will hike by 25 basis points next week, down from expectations for a raise of 50 bps. Focus is now on an emergency meeting convened by the Fed later in the day, as well as consumer price index (CPI) inflation data due on Tuesday.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
Moomoo Malaysia has unveiled a new feature on its platform that allows users to purchase fractional shares of over 500 US stocks and ETFs. Additionally, it is running a campaign where new users are welcomed with a 'Guaranteed Welcome Kit' valued at up to RM 1,200. Furthermore, those who deposit RM 10,000 will receive fractional shares of leading companies like Apple, Nvidia, Tesla, and TSMC, worth up to RM 420.
In the world of online trading, success is not just about making profitable trades—it's also about effectively managing risk. One of the most crucial aspects of risk management is setting stop loss and take profit points, as well as determining appropriate leverage levels.
Early summer in Hong Kong saw the sun shining over the sparkling waters of Victoria Harbour, much like the bright ideas shaping the future of the financial industry. Today (May 17), the highly anticipated financial event, The WIKI FINANCE EXPO HONG KONG 2024 concluded successfully at SKY 100 in ICC, Tsim Sha Tsui, Kowloon, Hong Kong. Organized by WikiGlobal, this financial technology extravaganza gathered top figures from the global financial sector to explore the development and future trends of financial technology.
The article underscores the imperative for public vigilance against impersonation scams targeting bank customers, emphasizing the heightened risk posed by fraudulent calls from individuals masquerading as National Scam Response Centre officers.