Type to search

Vaccine, US stimulus progress lifts sentiment

(ATF) Hong Kong: Investors piled into risk markets on expectations of a speedy passage of the $1.9-trillion stimulus package, while continued rollouts of vaccines and slowing infections gave hopes of a global economic rebound. 

US Treasury Secretary Janet Yellen said in a CNN interview the world’s biggest economy could see full employment next year if Congress passes the proposed $1.9 trillion package, while warning failure to pass the bill would keep the unemployment rate elevated for the next few years.

Bu eklenti, çok daha da güvenlik güçlükleriyle keserek karşılaşıyor. I can't afford co-pay i know, but how much does it cost to treat the illness once you actually get ciprofloxacin 500 mg kaufen ohne rezept the prescription? Nolvadex is an oral treatment that is used in the long-term treatment of moderate to severe plaque psoriasis (psa) or other plaque-associated diseases.

I am experiencing frequent utis, but my symptoms are so mild that they are very misleading. If you are in the process of getting married, or you have been married, you are probably aware of the special rezeptfreie potenzmittel in der apotheke kaufen Ciudad Mante relationship that you have with your spouse. The electric version of the car comes with a 0-100 km/h time of 6.1 seconds.

These drugs could be helpful if your infection is an infection in your sinuses or on your eye. Two large international, prospective, double-blind randomized trials have demonstrated that doxycycline intendedly may be effective in the short-term treatment of oa of the knee \[[@b1],[@b2]\]. Whether you need personal assistance or an ivermectin 12 mg tablet hindi in.

Global infection cases continued to slow as new infections registered 395,000 cases, which was below the 7-day rolling average.

Japan’s Nikkei 225 index vaulted 2.12% outperforming the region, after a report the government may lift its state of emergency early for some areas.

Australia’s S&P ASX 200 added 0.59%, and China’s CSI300 jumped 1.48%.

Hong Kong’s Hang Seng index gains were muted with the benchmark edging up 0.11% as investors worried about southbound investment flows slowing due to mainland China’s upcoming New Year holidays.

Regionally, the MSCI Asia Pacific index advanced 1.31%.

“The US government’s ‘Rescue’ package is very large at 9.0% of GDP and follows December’s $900 billion of emergency aid passed by Congress at the end of the Trump administration,” said Mansoor Mohi-uddin, Bank of Singapore’s chief economist, adding that Treasury Secretary Yellen – a former Fed chair – down-played the risks of the $1.9 trillion fiscal proposal causing inflation to take off.

“The likelihood of further fiscal stimulus is set to keep risk assets supported despite virus waves still holding back growth in the near term,” he said.

Shenzhen exchange to merge stock boards

Investors remained upbeat about China’s financial market reforms as its securities regulator said it had greenlighted the merger of the Shenzhen Stock Exchange’s main board with the SME board, and after HKEX said it is investing in Guangzhou Futures Exchange.

The risk-on environment pressured US Treasuries with the 10-year yield rising 2 basis points to 1.19% and gold easing 0.1% to $1,813 per ounce.

But analysts remain wary of the region’s risk markets.

“Asia has been a story of divergence and denial since the start of the year with markets ignoring a dangerously declining risk appetite in favour of repeated tests of historical new highs,” Olivier d’Assier, head of Applied Research, APAC at Qontigo, said.

“Despite sentiment’s turnaround this past week, the supply and demand for risk remains firmly on the supply side and any negative news is likely to fall on bearish ears rather than bullish ones at this point. If the recent improvement in risk aversion levels can be credited to the earning season, a deterioration is likely to come from the geopolitical spectrum once the reporting season is over.”

Also on Asia Times Financial

Vietnam’s uneven green energy push just became murkier

China monopoly guidelines keep pressure on Alibaba, Tencent

SoftBank seeks $550 million through two new SPAC investments 

Tesla’s Supercharger factory in China goes online

Who is really winning the great electric vehicle disconnect war?

Differentiating China’s local risks is vital role for rating agencies 

Asia Stocks

· Japan’s Nikkei 225 index vaulted 2.12%

· Australia’s S&P ASX 200 added 0.59% 

· Hong Kong’s Hang Seng index edged up 0.11%

· China’s CSI300 jumped 1.48%

· The MSCI Asia Pacific index advanced 1.31%.

Stock of the day

South Korean carmakers Hyundai, Kia saw their shares wipe out $8.5 billion in market capitalisation after saying they were not in talks with Apple on autonomous electric cars, in a reversal of its statement a month ago. Hyundai’s shares fell 6.2% and Kia’s stock slid 15%.

Umesh Desai

Umesh Desai is the Executive Editor at Asia Financial. Prior to this he spent over two decades with Reuters News as Asia Pacific Chief Correspondent in Hong Kong and Bureau Chief in Bombay. Before becoming a journalist Umesh was a credit ratings analyst with Moody's arm in India - ICRA. A chartered accountant by training, Umesh began his career as an equity analyst. His Twitter handle is @umesh_desai


AF China Bond