Asian shares on six-week peak

06.09.2021 - Kulakov Vladimir
Asian shares on six-week peak

Asian shares hit six-week highs on Monday as the chances of extended low rates in the U.S. combined with talks of additional stimulus in China and Japan.

A U.S. holiday set up thin conditions, but MSCI’s broadest index of Asia-Pacific shares outside Japan still gained 0.4% to the highest since late July.

Japan’s Nikkei added 1.8% to a five-month peak, extending a rally on the hopes that a new prime minister in the country would bring added fiscal spending.

Chinese blue chips jumped 1.7% amid talks that Beijing would also be increasing stimulus through fiscal and monetary policy.

Meanwhile, Nasdaq futures made a 0.1% gain, while S&P 500 futures remained flat.  EUROSTOXX 50 futures and FTSE futures stayed largely unchanged.

Investors are still examining the fallout from the September payrolls report, which revealed a smaller-than-expected increase in jobs but also a rise in wages.

The small jobs increase sent longer-dated Treasury yields higher and steepened the yield curve.

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