Asian stocks rise, Australian demand showing signs of recovery By Reuters

By Stanley White and Koh Gui Qing

TOKYO / NEW YORK (Reuters) – Asian stocks soared on Wednesday as investors ignored concerns that the stock may have recovered too quickly last year and focused on optimism that more impending American stimulus will energize the global economic recovery.

The broader MSCI index for Asia Pacific stocks outside Japan rose 0.44%. Australian stocks rose 0.62%, while the stock index rose just 0.03%. China’s shares gained 0.63%.

E-mini rose 0.23%.

Wall Street retreated overnight after the start of March with a bang, with its best one-day rally in nine months on Monday.

But some analysts have warned that concerns that stock prices may be agitated, a fear echoed by a top Chinese regulator on Tuesday, could make it more difficult for stock markets to maintain gains. Fears that the liquidation of U.S. Treasury bonds last week, which shook the stock markets, could resume, could also put a brake on stock prices, they said.

“Although the markets have stabilized …, the tone remains subdued, as investors continue to fear a new wave of rate sales,” analysts at TD Securities said in a note.

The cautious climate has weighed on the US dollar, which has benefited in recent days from investors’ hopes that the United States will recover faster and that the US central bank will be more tolerant of higher bond yields.

O was 90.787, generating a loss of 0.2% in relation to the previous session.

The Australian dollar shone again, rising to $ 0.7828 after stronger than expected economic growth in the fourth quarter fueled hopes for a V-shaped recovery from the coronavirus pandemic.

Reference yields on U.S. government bonds fell again for the third consecutive day, with investors pausing a recent liquidation before a series of US economic data to be released later this week. Yield was 1.4085%, down from last week’s high of 1.614%. [US/]

The US stock market was agitated last week, when benchmark yields skyrocketed to a year-high high with investors betting that a strong US economic recovery amid ultra-loose monetary conditions could fuel inflation.

US Federal Reserve officials said inflation concerns were premature, however, and warned that rising yields could tighten financial conditions and restrict economic recovery.

The broader global stock index for the MSCI rose 0.05%.

Oil prices were mixed, reaching a two-week low overnight, with expectations that OPEC + producers will ease supply restrictions at their meeting later this week as economies begin to recover from the crisis of the coronavirus.

US West Texas Intermediate crude changed little, at $ 59.74 a barrel, while futures rose 0.22% to $ 62.84 a barrel.

Cryptocurrency bitcoin erased initial losses and rose 0.62% to $ 48,814. The digital asset has grown 69% so far this year, as it gains more acceptance in major financial circles.