Asian stocks rebounded as Japanese shares surged after BOJ decision, but MSCI's Asia Pacific index slid.

From Yahoo Finance: 2024-06-14 00:27:32

Asian stocks rebounded as Japanese shares surged and the yen weakened after the Bank of Japan’s decision to delay bond buying reduction. Japan’s Topix index jumped 0.9%, while some anticipate BOJ to specify bond purchase plans at July meeting. MSCI’s Asia Pacific index slid, with China’s shares dropping for a fourth week.

US stock futures rose slightly in Asia on the back of S&P 500’s record high, especially in tech shares. Australian and New Zealand yields fell as Treasury yields saw decline. Producer price index data shows slowing inflation, potentially opening door for Fed rate cuts. China sold 50-year special government bonds with strong demand.

Ongoing European Union bond issues persist as bets for inclusion in key benchmarks stumble. Heightened political risk in France widened bond spread over Germany. Oil prices fell as US inflation slows, while gold stayed steady. Fed expected to cut rates later this year based on latest data, with possible reductions in September and December.

Key events this week include speeches from Chicago Fed President and US University of Michigan consumer sentiment data on Friday. Market moves showed S&P 500 futures stagnating, Nasdaq 100 futures rising slightly, and Euro Stoxx 50 futures up. Currencies saw minimal changes, with yen falling against the dollar and cryptocurrencies showing mild increases.



Read more at Yahoo Finance: Asian Stocks Slip, Yen Falls on BOJ Bond Decision: Markets Wrap