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Asia-Pacific Shares See Gains Ahead of US Treasury News

June 10, 2021

Talking Points:

  • Asia-Pacific shares saw gains in Thursday trading session.
  • USD strength contains the possible gains for commodities and equities.
  • Investors are becoming cautious amidst a risk-off sentiment while they await the US Consumer Price Index (CPI) data.

Asia-Pacific shares witnessed some upward momentum today following the gains seen on Wall Street in the North American session.

The Morgan Stanley Capital International (MSCI) index one of the largest indexes of Asia-Pacific shares outside of Japan was slightly higher. Japan’s Nikkei rose 0.4%, Kospi jumped 0.58%, and Australia’s ASX/200 gained 0.4%.

The Shanghai Composite rose by 0.5% following reports that Beijing and Washington have come to an agreement to restart healthy trade talks and would look for better cooperation following recent differences after a dramatic conversation between the Commerce Ministers from both sides.

On Tuesday we saw the US Treasury yields slip from 1.52% to 1.48%.

The main focus of the market remains on the upcoming release of the much anticipated US inflation data, which is keeping the investors in check.  The market continues to be cautious as the risk of an upward surprise in the data may encourage the Federal Reserve to start reducing its huge stimulus support.

In addition, investors are awaiting the upcoming European Central Bank (ECB) policy meeting, where it is believed they will continue their relaxed stance. Key data that is eagerly anticipated is around the forward guidance and the economic projections.

In other markets, we see the USD Index trade higher at 90.12 with 0.09% gains which is keeping the gains for the riskier assets in check. And the price of gold is trading lower at 1,885.83 USD with 0.40% losses.

 

 

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