June 27, 2022
ASIAN SHARE MARKET TRADE STEADY ON TUESDAY

ASIAN SHARE MARKET TRADE STEADY ON TUESDAY

Investors are wagering on markets over the upcoming central bank meetings this week thus pushing Asian stocks trade high on Monday. The Bank of England, the European Central Bank, and the Bank of Japan will be meeting to discuss several key policies, heading toward normalising policy at their own.
According to reports, this week the U.S Federal Reserve is widely expected to signal a faster tapering of asset buying. While it will also update the exact plots for rates that may be used over the next couple of years.
Stock market summary –
• In early trading, the European shares traded high, with pan-region Euro Stoxx 50 futures gaining 0.33%.
• The German DAX futures added 0.29%.
• While the FTSE futures also rose up 0.16%.
• The market with a rise to 0.25% fully priced in by May is already well ahead, while rates also rising 0.75% by year end.
• Last week, the MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.3%, after trading at 1.7%.
• As Japan’s survey of large manufacturers found sentiment was the best since late 2018, the Nikkei index rose 0.8%,.
• Chinese stocks amid hopes for more stimulus after Beijing’s recent loosening of bank reserve requirements added 0.9% to last week’s 3.1% jump.
• Nasdaq futures and S&P 500 futures both added 0.3%.
• In the Treasury market, yields on 10-year notes last week did rise 12 basis points, however at 1.49% remain well below the high for the year at 1.776%.
• The dollar index on Monday, was firm at 96.157.
• The dollar for the past week or so held between 95.848 and 96.594.
• The dollar was a shade softer on the yen at 113.54.
• While the euro having spent the last two weeks in a tight $1.1226/$1.1382 range fell to $1.1299 on Monday.
• In commodity markets, gold after gaining only fleeting support from the lofty U.S. inflation reading traded at $1,785 an ounce.
• Oil prices having gains of around 8% last week and breaking a six-week losing streak, extended its gains on Monday.
• Early Monday, Brent climbed 92 cents to $76.07 a barrel.
• While the U.S. crude gained 99 cents to $72.66.