On Thursday, Asian stocks rose after Wall Street took off overnight, breaking a six-day series of misfortunes. The recovery brought a measure of relief …
The prominent rise witnessed by Asian shares on Tuesday has been attributed to the expectation of additional stimulus from the United States Federal Reserve and the European Central Bank. Policy meetings were convened by both institutions this week but the doubts surrounding the lasting success of any sort of measures taken by the ECB put a ceiling on the euro.
It has been a fourth consecutive session for the fall of Asian stocks after Friday’s weak U.S. employment data and China’s faster-than-expected inflation numbers hurt risk appetite while Japanese exporters were hit by a stronger yen. Investor confidence in the U.S. economic recovery was shaken by a sharp slowdown in U.S. non-farm payrolls data released on Friday.
Strong gains in global equities just overnight have made the Asian shares shoot up, especially after hard manufacturing data from the United States, and as leading Asian exporters offset signs of mild recession in Europe.
The eurozone debt restructuring drops concern as a surprising rise in the Asian stocks has helped overshadow worries on the lack of progress. The healthy U.S. jobs data has also strengthened investor risk craving, weakening euro against most of its 16 major peers as eurozone leaders worked on a funding agreement and pushing Asian stocks high up on the list.