{"id":111730,"date":"2024-10-08T09:27:56","date_gmt":"2024-10-08T02:27:56","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=111730"},"modified":"2024-10-08T09:27:56","modified_gmt":"2024-10-08T02:27:56","slug":"chinese-shares-surge-at-reopen-asian-stocks-fall-markets-wrap","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=111730","title":{"rendered":"Chinese Shares Surge at Reopen, Asian Stocks Fall: Markets Wrap"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div>\n<p>(Bloomberg) &#8212; Chinese shares jumped, catching up to a stock rally fueled by stimulus measures after they reopened following a weeklong holiday. Asian equities more broadly fell, and the yen gained.<\/p>\n<p>Most Read from Bloomberg<\/p>\n<p>The benchmark CSI 300 index gained as much as 11% to start the session. Shares dropped in Japan, South Korea and Hong Kong after Wall Street was dragged down by a tech selloff, geopolitical angst and bets on a smaller Federal Reserve rate cut.<\/p>\n<p>Investors are focused on a briefing by the nation\u2019s top economic planner set for 10 a.m. for clues on more policy measures. The government unleashed a slew of stimulus measures before the Golden Week holiday break and Chinese shares have soared since then. Beijing\u2019s use of fiscal firepower has the potential to unlock between 4 trillion yuan ($570 billion) and 10 trillion yuan in stimulus, according to economist Jia Kang.<\/p>\n<p>\u201cThere is definitely a lot of support for the market coming through,\u201d Kerry Craig, JPMorgan Asset Management global market strategist, said on Bloomberg TV. \u201cThere is just a case of whether the market may be a little bit disappointed if they don\u2019t get what they expect on that fiscal package.\u201d<\/p>\n<p>An overheating of the A-share market and the Chinese government\u2019s delivery on its recently announced policy stimulus are among the risks investors should watch amid the Chinese stock market rally, according to Morgan Stanley.<\/p>\n<p>Several other investors are also not convinced about how long the rally will sustain. Invesco Ltd., JPMorgan Asset Management, HSBC Global Private Banking and Wealth, and Nomura Holdings Inc. are among those viewing the recent rebound with skepticism and waiting for Beijing to back up its stimulus pledges with real money.<\/p>\n<p>\u201cSo while we do anticipate a pop, we do expect more policy news to come out that would support share prices,\u201d said Lorraine Tan, director of Asia Equity Research at Morningstar on Bloomberg TV. \u201cWe\u2019d probably be a lot more selective going forward for anybody who wants to play into the uptick,\u201d she said.<\/p>\n<p>The S&amp;P 500 fell 1% on Monday after notching a four-week winning run. Alphabet Inc. sank 2.4% as a judge ruled it must lift restrictions that prevent developers from setting up rival marketplaces that compete with its Google Play Store. Brent crude jumped above $80 a barrel amid mounting tensions in the Middle East. In the wake of Friday\u2019s solid jobs data, Treasuries continued to drop \u2014 with the 10-year yield topping 4%.<\/p>\n<p><button class=\"link caas-button readmore-button-finance collapse-button readmore-button-class\" data-ylk=\"elm:readmore;slk:Story continues\"><span class=\"readmoreButtonText\">Story continues<\/span><\/button><\/p>\n<p>\u201cFriday\u2019s strong jobs report not only appeared to kill any chance of a 50-basis-point rate cut in November, it kickstarted chatter about the Fed leaving rates unchanged if economic data continues to come in hotter than expected,\u201d said Chris Larkin at E*Trade from Morgan Stanley. \u201cBut as last week showed, geopolitics can\u2019t be ignored.\u201d<\/p>\n<p>The crisis in the Middle East continues to unnerve investors, with fighting escalating Monday on multiple fronts after a year of war. The Israel Defense Forces said it intercepted most of a barrage of rockets fired toward Tel Aviv by Hamas and other Iran-backed groups. Brent crude soared to its highest price since August as speculation increased that Israel may attack Iran\u2019s oil infrastructure. West Texas Intermediate crude rose early Tuesday.<\/p>\n<p>To Dave Sekera at Morningstar, if there is any further geopolitical escalation, that would potentially spur the risk-off trade \u2014 with growth shares underperforming value ones.<\/p>\n<p>\u201cTypically, in a risk-off trade, you\u2019re going to see rotation into defense stocks, but I\u2019d be careful if you\u2019re an investor today,\u201d he said. \u201cSome of the defensive sectors today are already overvalued. Unlike a typical risk-off trade, I think oil stocks would go up.\u201d<\/p>\n<p>With the exception of energy shares, every major sector in the S&amp;P 500 dropped Monday. A gauge of the \u201cMagnificent Seven\u201d megacaps slipped 1.9%. Amazon.com Inc. sank 3.1% after Wells Fargo Securities downgraded the shares. Apple Inc. slid 2.3% as a Jefferies analyst said investors have overly optimistic expectations for the latest iPhones. Nvidia Corp. gained. In Asia, Samsung Electronics Co. reported preliminary operating profit that missed estimates.<\/p>\n<p>The VIX volatility gauge jumped to a two-month high. Treasury 10-year yields rose six basis points to 4.03%.<\/p>\n<p>Despite the drop in stocks, two of Wall Street\u2019s top strategists have turned more optimistic on signs of a robust labor market, economic resilience and easing interest rates.<\/p>\n<p>Morgan Stanley\u2019s Michael Wilson raised his view on so-called cyclical stocks relative to safer defensive peers, noting Friday\u2019s blowout payrolls data and expectations of more cuts from the Fed. His peer at Goldman Sachs Group Inc., David Kostin, upgraded his 12-month target for the benchmark to 6,300 points from 6,000. The gauge closed at 5,695.94 Monday.<\/p>\n<p>Key events this week:<\/p>\n<ul class=\"caas-list caas-list-bullet\">\n<li>\n<p>Fed\u2019s Raphael Bostic, Susan Collins, Philip Jefferson and Adriana Kugler speak, Tuesday<\/p>\n<\/li>\n<li>\n<p>Fed minutes, Wednesday<\/p>\n<\/li>\n<li>\n<p>Fed\u2019s Lorie Logan, Raphael Bostic, Austan Goolsbee and Mary Daly speak, Wednesday<\/p>\n<\/li>\n<li>\n<p>US initial jobless claims, CPI, Thursday<\/p>\n<\/li>\n<li>\n<p>Fed\u2019s John Williams and Thomas Barkin speak, Thursday<\/p>\n<\/li>\n<li>\n<p>JPMorgan, Wells Fargo kick off earnings season for the big Wall Street banks, Friday<\/p>\n<\/li>\n<li>\n<p>US PPI, University of Michigan consumer sentiment, Friday<\/p>\n<\/li>\n<li>\n<p>Fed\u2019s Lorie Logan, Austan Goolsbee and Michelle Bowman speak, Friday<\/p>\n<\/li>\n<\/ul>\n<p>Some of the main moves in markets:<\/p>\n<p>Stocks<\/p>\n<ul class=\"caas-list caas-list-bullet\">\n<li>\n<p>S&amp;P 500 futures were little changed as of 10:37 a.m. Tokyo time<\/p>\n<\/li>\n<li>\n<p>Nikkei 225 futures (OSE) fell 1%<\/p>\n<\/li>\n<li>\n<p>Japan\u2019s Topix fell 1.2%<\/p>\n<\/li>\n<li>\n<p>Australia\u2019s S&amp;P\/ASX 200 fell 0.2%<\/p>\n<\/li>\n<li>\n<p>Hong Kong\u2019s Hang Seng fell 2.9%<\/p>\n<\/li>\n<li>\n<p>The Shanghai Composite rose 8.1%<\/p>\n<\/li>\n<li>\n<p>Euro Stoxx 50 futures fell 0.3%<\/p>\n<\/li>\n<\/ul>\n<p>Currencies<\/p>\n<ul class=\"caas-list caas-list-bullet\">\n<li>\n<p>The Bloomberg Dollar Spot Index was little changed<\/p>\n<\/li>\n<li>\n<p>The euro was little changed at $1.0983<\/p>\n<\/li>\n<li>\n<p>The Japanese yen rose 0.2% to 147.89 per dollar<\/p>\n<\/li>\n<li>\n<p>The offshore yuan rose 0.2% to 7.0566 per dollar<\/p>\n<\/li>\n<\/ul>\n<p>Cryptocurrencies<\/p>\n<ul class=\"caas-list caas-list-bullet\">\n<li>\n<p>Bitcoin fell 0.6% to $62,601.04<\/p>\n<\/li>\n<li>\n<p>Ether fell 0.3% to $2,433.26<\/p>\n<\/li>\n<\/ul>\n<p>Bonds<\/p>\n<ul class=\"caas-list caas-list-bullet\">\n<li>\n<p>The yield on 10-year Treasuries declined two basis points to 4.01%<\/p>\n<\/li>\n<li>\n<p>Japan\u2019s 10-year yield was little changed at 0.925%<\/p>\n<\/li>\n<li>\n<p>Australia\u2019s 10-year yield advanced 11 basis points to 4.19%<\/p>\n<\/li>\n<\/ul>\n<p>Commodities<\/p>\n<ul class=\"caas-list caas-list-bullet\">\n<li>\n<p>West Texas Intermediate crude fell 0.6% to $76.67 a barrel<\/p>\n<\/li>\n<li>\n<p>Spot gold fell 0.2% to $2,638.60 an ounce<\/p>\n<\/li>\n<\/ul>\n<p>This story was produced with the assistance of Bloomberg Automation.<\/p>\n<p>&#8211;With assistance from Shery Ahn and April Ma.<\/p>\n<p>Most Read from Bloomberg Businessweek<\/p>\n<p>\u00a92024 Bloomberg L.P.<\/p>\n<\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/finance.yahoo.com\/news\/asian-traders-cautious-ahead-china-223430584.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Bloomberg) &#8212; Chinese shares jumped, catching up to a stock rally fueled by stimulus measures after they reopened following a weeklong holiday. Asian equities more broadly fell, and the yen &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=111730\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-111730","post","type-post","status-publish","format-standard","hentry","category-business","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/111730","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=111730"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/111730\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=111730"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=111730"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=111730"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}