Asian stocks rise, Aussie demand for recovery by Reuters

By Stanley White and Koh Gui Qing

TOKYO / NEW YORK (Reuters) – Asian equities rose higher on Wednesday as investors shrugged off concerns that equities have risen too much over the past year, instead focusing on optimism that more looming U.S. stimulus will fuel global economic recovery .

MSCI’s largest Asia-Pacific equities index outside Japan rose 0.44%. Australian equities rose 0.62%, while the stock index rose only 0.03%. Shares in China rose 0.63%.

E-mini increased by 0.23%.

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

But some analysts have warned that concerns that stock prices could be frothy, a fear that could be echoed by a Chinese government official on Tuesday, could make it harder to hit stock markets. Fears that the sell-off of the US treasury, which left the stock markets, could resume last week could also put a lid on stock prices.

“While markets have stabilized …, the tone remains low as investors continue to fear further sell-offs in rates,” TD Securities analysts said in a note.

The cautious mood has hurt the US dollar, which has benefited from investors’ hopes over the past few days that the United States will enjoy a faster economic recovery, and that the US Federal Reserve will be more tolerant of higher returns.

It stood at 90,787, which had a loss of 0.2% from the previous session.

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

The benchmark for US government bond yields fell again for the third consecutive day as investors disrupted a recent sell-off ahead of a string of US economic data to be released later this week. The return on 1.4085% was lower than last week’s high of 1.614%. [US/]

The US stock market was lifted last week when standard yields rose to a one-year high at investor games that a strong economic downturn in the US amid ultra-loose monetary conditions could fuel inflation.

The US Federal Reserve said that concerns about inflation were premature, warning that rising returns could exacerbate financial conditions and hamper an economic recovery.

MSCI’s broadest global equities index rose 0.05%.

Oil prices were mixed and hit an all-week low of two weeks amid expectations that OPEC + producers will ease the acceleration of supply at their meeting later this week as the economies of the coronavirus crisis begin to recover.

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

Cryptocurrency bitcoin wiped out early losses and rose 0.62% to $ 48,814. The digital asset has risen 69% so far this year as it gains more acceptance in general financial circles.