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HomeLatestAsian Markets React: Chinese Shares Surge, Japanese Stocks Slide as Yen Holds...

Asian Markets React: Chinese Shares Surge, Japanese Stocks Slide as Yen Holds Steady

Amidst a backdrop of cautious optimism regarding the global economic outlook, Asian markets witnessed a mixed performance on Monday. Chinese equities led the rally, buoyed by encouraging economic indicators, while Japanese stocks faltered amidst concerns surrounding currency intervention.


Following a market holiday in the United States on Friday, U.S. stock futures pointed towards a positive start to the week. The Federal Reserve’s release of data indicating a softening in inflationary pressures further fueled expectations of a potential interest rate cut in June, bolstering market sentiment.


The optimism surrounding a potential shift in U.S. monetary policy drove gold prices to a fresh record high, while crude oil remained firm on the back of improved economic prospects in China and expectations of production cuts by OPEC+.


Mainland Chinese blue chips surged by 1.39%, supported by upbeat manufacturing data indicating the fastest expansion in 13 months. This followed official figures released over the weekend, signaling the first expansion in China’s economy in six months.

Singapore’s Straits Times Index and South Korea’s Kospi also posted modest gains of 0.35% and 0.08% respectively, reflecting the overall positive sentiment in the region.

However, Japan’s Nikkei experienced a decline of 1.4%, weighed down by concerns over potential yen-buying intervention. Worries regarding the impact of intervention on exporter profits and returns for foreign investors contributed to the bearish sentiment. Additionally, a corporate survey revealing a downturn in sentiment among major manufacturers added to selling pressure.

Looking ahead, U.S. S&P 500 and Nasdaq futures indicated a positive start to trading, suggesting continued momentum in global markets. However, with several markets closed for Easter holidays, including Australia, Hong Kong, the United Kingdom, and Germany, trading activity may be subdued.

In the currency markets, the dollar remained stable against the yen, hovering near its recent trading range amid heightened concerns of intervention by Japanese authorities. Meanwhile, the euro and sterling showed little movement against the dollar.

Elsewhere, spot gold prices surged by 1.2% to reach $2,258.12 per ounce, hitting a new all-time high earlier in the session. Brent crude and U.S. West Texas Intermediate crude also posted gains, supported by improving demand outlooks and production cut expectations.

As markets continue to navigate through uncertainties, investors remain cautious yet optimistic, anticipating further developments in monetary policy and economic indicators to guide their trading decisions in the coming days.