Asian shares up on Wall St tech boost, dollar extends gains on yen
Updates prices as of 0530 GMT
By Stella Qiu
SYDNEY, Sept 12 (Reuters) -Asian shares bounced on Thursday, tracking a tech-driven rally on Wall Street, while the dollar held onto gains after U.S. core inflation surprised slightly on the upside and dashed hopes of a large rate cut by the Federal Reserve next week.
Investors are now awaiting a policy decision from the European Central Bank later in the day where a rate cut is almost a certainty, but the question remains whether it would move again in both October and December. 0#ECBWATCH
Europe is set for solid gains ahead of the ECB risk event, with EUROSTOXX 50 futures STXEc1 jumping 1.3% and FTSE futures FFIc1 gaining 1.1%. Nasdaq futures NQc1 also turned higher, last up 0.3%.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rallied 1.5%. The Nikkei .N225 jumped 3.3%, helped by a weaker yen, which pulled back from its 2024 high of 140.71 per dollar.
The dollar was last up another 0.3% to 142.75 yen JPY=EBS, having been pressured earlier by hawkish comments from a senior Bank of Japan official who called for raising rates at least to 1%.
Overnight, U.S. data showed core consumer price index (CPI) rose 0.28% in August, compared with forecasts for a rise of 0.2%. It was enough of a steer for markets to almost abandon the chance of a half-point rate cut from the Federal Reserve next week, with probability for such a move at just 15%. FEDWATCH
"We wanted answers to help settle the 25bp vs 50bp Fed rate cut debate on Friday, but now it seems the market has made its own mind up," said Chris Weston, head of research at Pepperstone, referring to the mixed August payrolls report last Friday.
"We are now comfortable with calling a 25bp cut for September, but also open-minded to the idea that a weak U.S. payrolls report on 4 October would fully open up a 50bp cut in the November FOMC meeting."
The disappointment over core inflation figures had pressured Wall Street but again tech stocks came to the rescue, with AI darling Nividia NVDA.O jumping 8%, helped by a media report that the U.S. government is considering letting the company export advanced chips to Saudi Arabia. .N
Regional tech-heavy sharemarkets followed suit, with Taiwan .TWII adding 2.8% and South Korea .KS11 gaining 1.7%.
China's share markets were subdued, while Hong Kong's Hang Seng .HIS moved 1.2% higher.
In the foreign exchange market, the dollar traded near a four-week high versus the euro EUR=EBS, which eased to $1.1015, not far from Wednesday's low of $1.1002 - the weakest since Aug. 16. FRX/
Short-dated U.S. Treasuries sold off overnight. Two-year Treasury yields US2YT=RR edged up 1 basis point to 3.66%, having risen 4 basis points overnight, while 10-year yields US10YT=RR were at 3.6665%.
That left the 2-10-year yield curve flattening slightly and barely remaining positive at less than 1 bp.
Oil extended gains on fears that Hurricane Francine could lead to lengthy production shutdowns in U.S. O/R
Brent crude futures LCOc1 rose 0.7% to $71.09 a barrel, after gaining 2% overnight. It also found support at $68.69, the lowest level in almost three years.
Gold XAU= was 0.2% higher at $2,517.89 an ounce, just a touch below its record high of $2,531.60.
Asia stock markets https://tmsnrt.rs/2zpUAr4
Asia-Pacific valuations https://tmsnrt.rs/2Dr2BQA
Reporting by Stella Qiu
Editing by Shri Navaratnam and Lincoln Feast.
To read Reuters Markets and Finance news, click on https://www.reuters.com/finance/markets For the state of play of Asian stock markets please click on: 0#.INDEXA
Actifs liés
Dernières actualités
Avertissement : Les entités de XM Group proposent à notre plateforme de trading en ligne un service d'exécution uniquement, autorisant une personne à consulter et/ou à utiliser le contenu disponible sur ou via le site internet, qui n'a pas pour but de modifier ou d'élargir cette situation. De tels accès et utilisation sont toujours soumis aux : (i) Conditions générales ; (ii) Avertissements sur les risques et (iii) Avertissement complet. Un tel contenu n'est par conséquent fourni que pour information générale. En particulier, sachez que les contenus de notre plateforme de trading en ligne ne sont ni une sollicitation ni une offre de participation à toute transaction sur les marchés financiers. Le trading sur les marchés financiers implique un niveau significatif de risques pour votre capital.
Tout le matériel publié dans notre Centre de trading en ligne est destiné à des fins de formation / d'information uniquement et ne contient pas – et ne doit pas être considéré comme contenant – des conseils et recommandations en matière de finance, de fiscalité des investissements ou de trading, ou un enregistrement de nos prix de trading ou une offre, une sollicitation, une transaction à propos de tout instrument financier ou bien des promotions financières non sollicitées à votre égard.
Tout contenu tiers, de même que le contenu préparé par XM, tels que les opinions, actualités, études, analyses, prix, autres informations ou liens vers des sites tiers contenus sur ce site internet sont fournis "tels quels", comme commentaires généraux sur le marché et ne constituent pas des conseils en investissement. Dans la mesure où tout contenu est considéré comme de la recherche en investissement, vous devez noter et accepter que le contenu n'a pas été conçu ni préparé conformément aux exigences légales visant à promouvoir l'indépendance de la recherche en investissement et, en tant que tel, il serait considéré comme une communication marketing selon les lois et réglementations applicables. Veuillez vous assurer que vous avez lu et compris notre Avis sur la recherche en investissement non indépendante et notre avertissement sur les risques concernant les informations susdites, qui peuvent consultés ici.