Asian shares veer away from year lows, NZ maintains rates

18.08.2021 - Evdokimov Roman
Asian shares veer away from year lows, NZ maintains rates

Asian shares crept away from near year-to-date lows on Wednesday despite Wall Street’s overnight declines. Meanwhile, New Zealand’s central bank beat expectations by not increasing interest rates as the country went into lockdown due to cases of the coronavirus’ Delta variant.

The New Zealand dollar hit a nine-month low of $0.6868 after the Reserve Bank of New Zealand’s decision to maintain its interest rates. However, it soon bounced back, rising to $0.6933 as investors digested projections showing policymakers still expect to increase rates over the coming months.

MSCI’s broadest index of Asia-Pacific shares outside Japan climbed up 0.45%, ending five sessions of successive declines, but still remained close to year-to-date lows hit in July.

In Asia, Chinese blue chips went up 0.66%, and the Hong Kong benchmark jumped 0.71%. Meanwhile, South Korean stocks recovered from an eight-day losing streak and made a 0.82% gain. Japan’s Nikkei rose 0.57%.

Wall Street dropped overnight after retail sales came in below expectations and valuations had become increasingly stretched. The S&P 500 took a 0.71% loss after reaching a new record high on Monday.

Meanwhile, US stock futures, the S&P 500 minis, barely moved in Asian hours, inching down 0.1%.

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?