Asian stocks rise after Fed chief optimistic about recovery

Asian stocks rose Monday after the chief U.S. central banker expressed optimism the the American economy might start to recover this year from the coronavirus pandemic.

Benchmarks in Shanghai, Tokyo, Hong Kong and Australia all advanced

Asian and EU Stocks

  • Stocks The Stoxx Europe 600 Index climbed 1.9%.
  • Futures on the S&P 500 Index rose 1.5%.
  • Germany’s DAX Index climbed 2.4%.
  • The MSCI Asia Pacific Index rose 0.2%.
  • The Shanghai Composite Index rose 0.2% to 2,874.89.

  • Tokyo’s Nikkei 225 gained 0.3% to 20,105.84.

  • The Hang Seng in Hong Kong advanced 0.1% to 23,819.26.

  • The Kospi in Seoul was 0.5% higher at 1,935.73.

  • Australia’s S&P-ASX 200 gained 1.4% to 5,478.10.

  • Markets in New Zealand and Singapore also advanced.

Currencies

  • The euro was little changed at $1.0822.
  • The British pound dipped 0.1% to $1.2106.
  • The Japanese yen weakened 0.2% to 107.23 per dollar.

Bonds

  • The yield on 10-year Treasuries increased less than one basis point to 0.65%.
  • Germany’s 10-year yield rose less than one basis point to -0.53%.
  • Britain’s 10-year yield declined one basis point to 0.221%.
  • Portugal’s 10-year yield climbed less than one basis point to 0.882%.

Commodities

  • West Texas Intermediate crude increased 5.9% to $31.18 a barrel.
  • Gold strengthened 1% to $1,760.36 an ounce.

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