Asian Stocks Open Mixed After Wall Street Rally
Stocks in Asia got off to an uneven start in the wake of a US rally fueled by optimism over artificial intelligence spending.
Shares in Japan started the day higher but benchmarks in Australia and Korea slipped. The MSCI Asia Pacific index was flat. The tepid open for Asian markets came after the S&P 500 rose 0.6% on Wednesday, putting the index close to an all-time high.
Investors in Asia are still digesting the impact of US President Donald Trump’s first few days in office, which have sent mixed signals to investors. Trump has reiterated a tariff threat against China but has largely spared the world’s second-largest economy from a feared escalation of the trade war.
Investors are also weighing up further moves from China to boost its stock market. Beijing rolled out a basket of measures in an attempt to stabilize the market on Wednesday, including plans to boost the amount pension funds can invest in listed companies.
The securities regulator scheduled a separate briefing for 9:00 am on Thursday, raising the possibility that more measures will be announced today.
The yield on 10 year US Treasuries was little changed at 4.61%.
Source : Bloomberg
