Asian Markets Boosted by Dovish Fed Amid Bond Market Calm
Asian equities mostly rose on Thursday, recovering from a recent downturn due to dovish remarks by Federal Reserve officials and smooth Japanese debt auctions. However, Chinese shares plunged amid regulatory measures against speculation. The MSCI Asia-Pacific index fell slightly, dragged by China’s losses, with markets eyeing upcoming U.S. non-farm payroll data.
Asian stocks experienced a lift on Thursday following calming remarks from Federal Reserve officials and successful Japanese debt auctions, which helped ease anxiety in the bond markets. Major gains were observed in Australia, India, and Japan, while shares in China fell sharply due to regulatory interventions against speculative practices.
The MSCI's broad Asia-Pacific index, excluding Japan, slipped 0.2%, primarily due to a steep 2.6% drop in China's CSI 300 index, marking its third consecutive day of decline. Bloomberg reported that China's financial regulators are planning to implement measures to cool market speculation.
In the U.S., stock futures nudged up by 0.1% amid confidence bolstered by the Federal Reserve's stance and a smooth 30-year Japanese government bond auction. Australian equities rebounded, and Japan's Nikkei 225 rose by 1.6%, while India's Sensex increased by 1.1% after government tax reductions aimed at boosting consumer spending.
(With inputs from agencies.)
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