From Nasdaq:

China’s markets saw a third day of gains due to policy support. Shanghai Composite .SSEC index rose 3% and Hang Seng .HSI rose 9.9% in Hong Kong. Property developers and infrastructure firms led the rally. This comes after Beijing’s recent bank reserve requirement cut, boosting investor expectations of official help.

Asian shares are up; U.S. dollar gained from a U.S. business activity uptick in January. Nissan 100 futures were flat, post bell drops for Tesla. IBM soared after an optimistic revenue forecast and a fall in Tesla shares just before earnings. South Korea’s growth was above expectations.

Global bond markets are under pressure as traders scale back rate cut expectations. European Central Bank expected to leave rates unchanged and Japanese government bond yields surged. U.S. interest rate futures significantly reduced chances of a U.S. rate cut in March.

The Chinese yuan held steady at 7.159 to the dollar thanks to a strong trading band. Commodity markets saw higher Brent futures and steadied Singapore iron ore. London copper shot to a three-week high on hopes of more stimulus measures from China, and the price was at $80.32 a barrel.

The chapter concludes with world FX rates, global asset performance and Asian stock markets.



Read more: GLOBAL MARKETS-China stocks bounce back; focus turns to ECB