Stocks in Asia Rise on Fed, China Policy Boost

Monday, 7 January 2019 08:51 WIB

MSCI Asia PacificSaham Asia Indeks MSCI Asia Pasifik


Stocks across Asia kicked off the week with strong gains after soothing Federal Reserve comments and an easing of monetary policy in China triggered a renewed appetite for risk assets. Treasuries steadied after Friday's slide and oil extended its recent rebound.

The MSCI Asia Pacific Index climbed 1.9 percent.

Shares in Japan led the charge, with advances also in Hong Kong, South Korea and Australia. U.S. futures climbed, signaling Friday's rally in U.S. stocks could continue.

Japan's Topix index rose 3.2 percent as of 10:34 a.m. in Tokyo. Australia's S&P/ASX 200 Index gained 1.4 percent. Hong Kong's Hang Seng Index rose 1.5 percent. The Shanghai Composite Index advanced 0.5 percent.

Federal Reserve Chairman Jerome Powell said policy is flexible and officials are “listening carefully” to financial markets, while the People's Bank of China cut the required reserves for banks. Sentiment may also be helped as the U.S. and China reopen trade talks.

Source: Bloomberg


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