Asian shares up but investors wary of China

30.08.2021 - Petr Mazaylo
Asian shares up but investors wary of China

Asian shares went up on Monday as the dollar hit a two-week low. The rise followed US Fed Chairman Jerome Powell’s dovish tone at the Central Bank’s Jackson Hole symposium. However, investors are still cautious about prospects in China.

MSCI’s broadest index of Asia-Pacific shares outside Japan jumped 0.45%, while Japan’s Nikkei climbed up 0.28%.

Smaller markets in Taiwan and Singapore made 0.45% and 0.77% gains, respectively.

In China, blue chips fell 0.20%, and Hong Kong’s benchmark fluctuated on either side of flat.

Companies in China have recently been targeted by a chain of regulatory crackdowns, scaring away investors and leading the Hong Kong benchmark to 2021 lows earlier in the month.

Meanwhile, in his prepared remarks at the symposium, Powell gave no indication on cutting asset purchases besides saying it could be “this year”.

This dovish tone boosted US benchmark Treasury yields and caused the greenback’s drop, with both trends continuing until Monday morning trade in Asia.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?