• By The Financial District

U.S. MARKET REBOUND GIVES ASIAN STOCKS A PUSH

Asia stocks climbed after US benchmarks halted a three-day slide, with investors migrating to value from growth companies as signs of a strengthening labor market tempered inflation worries, Emily Barrett reported for Bloomberg News.

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Indices in South Korea, Australia, and Japan also gained for the first time in four sessions. Investors will be watching China’s open after MSCI Inc.’s index covering the country’s stocks fell into bear-market territory.


US futures edged higher, following gains in the major benchmarks. Industrial and financial shares outperformed overnight, while energy producers joined a slump in oil.


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Markets appear to have recovered from a bout of volatility following an unexpectedly sharp increase in the US consumer price index.


The latest data reinforced inflation pressures, with producer prices outpacing forecasts, but a drop in jobless claims helped sentiment.


Fed Governor Christopher Waller reiterated the central bank’s view that the economic reopening is driving a temporary surge in price pressures, though they may last through 2022.


S&P 500 contracts climbed 0.1% as of 9:18 a.m. in Tokyo. The S&P 500 rose 1.2%. Nasdaq 100 futures were steady. The index advanced 0.8%.


Market & economy: Market economist in suit and tie reading reports and analysing charts in the office located in the financial district.

Japan’s Topix Index rose 1.4%. Australia’s S&P/ASX 200 was up 0.8%. South Korea’s Kospi gained 0.8%. Hong Kong’s Hang Seng futures rose 0.7% earlier.


The Bloomberg Dollar Spot Index edged higher. The euro was at $1.2077. The British pound traded at $1.4043. The Japanese yen was at 109.54 per dollar. The yield on 10-year Treasuries was steady at 1.66%.


Australia’s 10-year yield slipped two basis points to 1.80%. West Texas Intermediate crude edged down to $63.78 a barrel, after falling 3.4% in US hours. Gold futures traded at $1,824.85 an ounce, Vildana Hajric and Kamaron Leach reported for Bloomberg News.



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Happyornot makes feedback terminals measuring customer satisfaction sing smiley-face buttons.
Happyornot makes feedback terminals measuring customer satisfaction sing smiley-face buttons.