Asian shares reversed early gains, with investors in Chinese stocks unsettled by U.S. moves against 33 Chinese entities, with markets otherwise waiting for U.S inflation data that could influence how fast the Federal Reserve raises interest rates.
Asian stocks were mixed and US Treasury yields fell Tuesday as markets, boosted by the weekend of a long-delayed $1 trillion US infrastructure bill, waited for the release of US inflation data.
Asian stocks reversed earlier gains on Tuesday, weighed by Chinese markets as investors took profit on a recent rally in some mainland firms, although ebbing inflation fears helped shore up broader sentiment in the region.
Asian stocks recovered from earlier losses on Tuesday, lifted by firmer U.S. equity futures and central bank comments aimed at soothing fears about rising bond yields and inflation.
Asian stock markets edged higher on Wednesday, brushing off Wall Street’s weaker finish, which came after U.S. President Donald Trump abruptly broke off economic stimulus negotiations with lawmakers.
Gold hit an all-time high on Monday as tit-for-tat consulate closures in China and the United States rattled investors, boosting the allure of safe haven assets, although sentiment was mixed with tech gains supporting some Asian stocks.
Asian stocks edged up on Friday but were on course to end the week lower as deteriorating U.S.-China relations add to uncertainties over how fast economies can recover as they start to emerge from lockdowns.
Asian stocks extended gains on Tuesday after China’s trade data came in better than expected and as some countries tried to restart their economy by partly lifting restrictions aimed at curbing the coronavirus outbreak.
Asian stocks eked out gains on Thursday, but the week’s rally lost steam as investors seemed torn between relief at the agreement of a huge U.S. stimulus package and dread over a likely spike in jobless claims and coronavirus cases.
Asian stocks fell on Wednesday after U.S. lawmakers called for an impeachment inquiry into President Donald Trump, increasing the prospects of prolonged political uncertainty in the world’s largest economy.
