Asian shares eked out inadequate gains on Wednesday

Asian shares eked out inadequate gains on Wednesday, as higher Wall Street futures provided some relief for investors after an overnight U.S. selloff, though deeper worries about the global economy are likely to keep a lid on sentiment.

Asian Shares

  • MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.03%.
  • Japan’s Nikkei rose 0.04% and Australia’s shares rose 0.07%.
  •  The S&P 500 fell 0.33%.


“Bonds are rallying and there is limited upside for stocks right now,” said Kiyoshi Ishigane, chief fund manager at Mitsubishi UFJ Kokusai Asset Management Co in Tokyo.

“But I don’t want to give up on equities just yet. The U.S. Federal Reserve and officials in other countries simply have to do more to stimulate their economies, which will eventually prevent the bottom from falling out.”

A trade dispute between the United States and China is now in its second year and is placing increasing strain on the global economy, forcing policy makers to respond with interest rate cuts and stimulus measures to bolster growth.

The yield curve inversion is the deepest since May 2007, when the U.S. subprime financial crisis started to unfold.

  • The yield on benchmark 10-year Treasuries stood at 1.4744%.
  • The two-year yield stood at 1.5159%.
  • Yields on 30-year Treasuries stood at 1.9554%.


  • Spot gold was unchanged in Asia at $1,542.25 per ounce, but still close to a six-year high.
  • U.S. crude ticked up 1.17% to $55.57 a barrel, supported by expectations of a drawdown in U.S. crude inventories.


Comments are closed.

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy