Asian Shares Rise, Tech Leads Way Despite Concerns over Higher U.S. Interest Rates and Inflation: Yen Hits 34-Year Low Against Dollar

Tokyo, Japan Japan
Asian shares mostly rose on Monday, with tech leading the way after strong gains in Wall Street.
Chinese markets advanced following the government's announcement to further loosen property purchase restrictions.
Ipek Ozkardeskaya, senior analyst at Swissquote Bank, said investors will be closely monitoring the latest developments in the remarkable and volatile decline of the Japanese yen against the U.S. dollar.
Stephen Innes, managing partner at SPI Asset Management, said the market mood was positive after last week's Wall Street tech-driven rally.
The yen reached a new 34-year low against the U.S. dollar and other major currencies after the Bank of Japan’s decision to keep interest rates unchanged.
U.S. dollar edged up at one point to 155 Japanese yen levels before cascading downward to as low as 153 yen.
U.S. shares were set to drift higher with S&P 500 futures up 0.2% and Dow Jones Industrial Average futures rising 0.2%. Sydney’s S&P/ASX 200 added 1%, South Korea’s Kospi surged 1.3%, Hong Kong’s Hang Seng edged up 0.5%, and the Shanghai Composite rose 1%.
Asian Shares Rise, Tech Leads Way Despite Concerns over Higher U.S. Interest Rates and Inflation: Yen Hits 34-Year Low Against Dollar

TOKYO and NEW YORK (AP) - Asian shares mostly rose on Monday, with tech leading the way after strong gains in Wall Street, despite concerns about higher U.S. interest rates and inflation. The Federal Reserve is set to hold a policy meeting later this week.

Chinese markets advanced following the government's announcement to further loosen property purchase restrictions.

France's CAC 40 added 0.3% in early trading, Germany's DAX edged up 0.2%, and Britain's FTSE 100 gained 0.5%. U.S. shares were set to drift higher with S&P 500 futures up 0.2% and Dow Jones Industrial Average futures rising 0.2%. Sydney's S&P/ASX 200 added 1%, South Korea's Kospi surged 1.3%, Hong Kong's Hang Seng edged up 0.5%, and the Shanghai Composite rose 1%. Trading was closed in Tokyo for a holiday, Showa Day.

Stephen Innes, managing partner at SPI Asset Management, said the market mood was positive after last week's Wall Street tech-driven rally. The recent string of strong earnings have boosted market sentiments. However, what could be a risk factor is the declining Japanese yen.

The yen reached a new 34-year low against the U.S. dollar and other major currencies after the Bank of Japan's decision to keep interest rates unchanged on Friday, which was in line with expectations but lacked significant concern about the exchange rate.

In currency trading Monday, the U.S. dollar edged up at one point to 155 Japanese yen levels before cascading downward to as low as 153 yen, raising speculation of market intervention by the Bank of Japan. The central bank does not comment on such moves.

Ipek Ozkardeskaya, senior analyst at Swissquote Bank, said investors will be closely monitoring the latest developments in the remarkable and volatile decline of the Japanese yen against the U.S. dollar and other major currencies.

The medium-term impact of a currency intervention is not a given if it is not backed by a more hawkish policy stance.

In energy trading, benchmark U.S. crude fell 51 cents to $83.34 a barrel, and Brent crude lost 73 cents to $88.77 a barrel.


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Confidence

85%

Doubts
  • Is the recent string of strong earnings enough to boost market sentiments in the long term?
  • What is the significance of the declining Japanese yen and its impact on Asian markets?

Sources

96%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

Asian stocks rise as tech boost offsets Fed jitters; China leads

Investing.com Financial Markets Platform Ambar Warrick Monday, 29 April 2024 09:26
  • Unique Points
    • Asian stocks rose on Monday with tech leading the way after strong gains in Wall Street.
    • Chinese markets advanced following the government's announcement to further loosen property purchase restrictions.
  • Accuracy
    • Chinese markets advanced following the government’s announcement to further loosen property purchase restrictions.
    • U.S. inflation data did not deter Asian markets despite expectations of higher interest rates from the Federal Reserve.
    • Tech stocks were boosted by stronger-than-expected earnings from Microsoft Corporation and Alphabet Inc, triggering a rally on Wall Street.
    • Anticipation of the Federal Reserve meeting is expected to limit gains in Asian markets this week.
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (100%)
    None Found At Time Of Publication
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (100%)
    None Found At Time Of Publication

97%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

Stock market today: Global shares rise, cheered by last week's tech rally on Wall Street

Yahoo Finance YURI KAGEYAMA Monday, 29 April 2024 09:29
  • Unique Points
    • Federal Reserve policy meeting is set for later this week.
    • , and indexes rose 1.3% and 0.8%, respectively, outperforming most regional peers.
    • Tech stocks were boosted by stronger-than-expected earnings from Microsoft Corporation and Alphabet Inc, triggering a rally on Wall Street.
  • Accuracy
    • Global shares are trading higher on Monday.
    • Optimism over the rally that ended the week on Wall Street is present.
    • CAC 40 added 0.3% in early trading to 8,109.22.
    • DAX edged up 0.2% to 18,198.89.
    • FTSE 100 gained 0.5% to 8,176.36.
    • U.S shares are set to drift higher with S&P 500 futures up 0.2% at 5,144.00.
    • Dow futures rose 0.2% to 38,509.00.
    • Sydney's S&P/ASX 200 added 0.8% to 7,637.40.
    • South Korea's Kospi surged 1.2% to 2,687.44.
    • Hong Kong's Hang Seng edged up 0.5% to 17,746.91
    • Shanghai Composite rose 0.8% to 3,113.04
    • Market mood is positive after last week's Wall Street tech-driven rally.
    • Recent string of strong earnings have boosted market sentiments.
    • Declining Japanese yen could be a risk factor for investors
    • The yen reached a new 34-year low against the U.S. dollar and other major currencies
    • Bank of Japan kept interest rates unchanged on Friday, but lacked significant concern about the exchange rate
    • U.S dollar edged up to 160 Japanese yen levels before cascading downward to as low as 155 yen
    • The medium-term impact of a currency intervention is not guaranteed if it's not backed by a more hawkish policy stance.
    • Dollar cost 155.89 yen in afternoon trading.
    • Euro cost $1.0724, up from $1.0699
    • A weak yen can be a boon for Japan's giant exporters like Toyota Motor Corp.
    • Recent data on U.S inflation have analysts expecting the Federal Reserve to keep rates on hold
    • Federal Reserve main interest rate has been sitting at the highest level since 2001
    • A report released Friday showed inflation remaining high
    • Top Fed officials have indicated they could hold its main interest rate high for a while to ensure inflation heads down toward the 2% target.
    • Benchmark U.S crude fell 51 cents to $83.34 a barrel.
    • Brent crude, the international standard, lost 73 cents to $88.77 a barrel.
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (100%)
    None Found At Time Of Publication
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (100%)
    None Found At Time Of Publication

92%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

Stock Market Today: Dow, S&P 500 Down After GDP Data; Meta, DJT, Nvidia, Caterpillar, Southwest Airlines, Royal Caribbean, and More Movers

Barron's Financial Group Monday, 29 April 2024 09:30
  • Unique Points
    • U.S. economic growth for the first quarter fell short of forecasts, with an annualized rate of 1.6% according to the Bureau of Economic Analysis
    • The yield on the 10-year Treasury rose to 4.706%, marking the highest level this year and dangerously close to Nov. 1, 2023 closing level of 4.79%
  • Accuracy
    • Investors sold off assets after the latest gross domestic product reading showed a measure of core inflation gained 3.7% in the first quarter versus 2% prior, suggesting that inflation is on the rise
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (85%)
    The article contains a few informal fallacies and appeals to authority. It also uses inflammatory rhetoric by describing bond yields as 'elevated' and the yield on the 10-year Treasury as 'dangerously close' to a specific level. Additionally, it employs dichotomous depictions by suggesting that investors are either buying longer-duration debt or shorter-duration debt, without acknowledging that some may be doing both.
    • . . .investors found risks to the inflation outlook in the latest economic data.
    • The yield on the 10-year Treasury rose to 4.706%, marking the highest level this year; it is now dangerously close to Nov. 1, 2023 closing level of 4.79%.
    • Investors . . . lose as the value of bonds in their portfolio falls.
    • The Nasdaq was particularly weighed down by Meta Platforms’ commentary on artificial intelligence.
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (0%)
    None Found At Time Of Publication

95%

The overall score is a weighted number that takes into account conflict of interest, bias, deception and other practices that undermine the credibility of the source. It is calculated as:
(Site Conflicts Of Interest + Author Conflicts Of Interest) / 2.0 * 0.2 + ArticleBiasScore * 0.20 + UniquePointsScore * 0.05 + DeceptionScore * 0.20 + ReadabilityScore * 0.05 + FallacyScore * 0.20

A score that takes into consideration the content for flow, interruptions with ads, and overt search engine optimization techniques that makes the content hard to understand

Stock market today: Asian benchmarks mostly climb despite worries about US economy

The Associated Press News Thursday, 25 April 2024 06:14
  • Unique Points
    • Asian shares mostly rose on Friday despite worries about the economic outlook and inflation in the US and the rest of the world.
    • Some Japanese officials have been raising concerns that an overly weak currency is not good for the Japanese economy in the long run.
  • Accuracy
    • The U.S. dollar was trading at 155.54 Japanese yen, little changed from the previous day.
    • The S&P 500 fell 0.5% to 5,048.42.
    • Meta Platforms, the company behind Facebook and Instagram, dropped 10.6% despite reporting better profit for the latest quarter than analysts expected.
  • Deception (100%)
    None Found At Time Of Publication
  • Fallacies (95%)
    The article contains some instances of appeals to authority and inflammatory rhetoric, but no formal logical fallacies were identified. The author quotes several experts and financial data to support the information presented in the article.
    • ][Finance Minister Shunichi Suzuki] has been raising concerns that an overly weak currency is not good for the Japanese economy in the long run.[/
    • ][Brian Jacobsen, chief economist at Annex Wealth Management] said Thursday’s economic data will likely get revised a couple times as the U.S. government fine-tunes the numbers. But the lower-than-expected growth and higher-than-expected inflation is ‘a bit of a slap in the face to those hoping for a ‘no landing’ scenario.’[
  • Bias (100%)
    None Found At Time Of Publication
  • Site Conflicts Of Interest (100%)
    None Found At Time Of Publication
  • Author Conflicts Of Interest (0%)
    None Found At Time Of Publication