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14 Apr 2022

Asian Shares Rise amid Retreating U.S. Treasury Yields and China’s Monetary Boost

The Index Today

Asian shares rose on Thursday spurred by retreating dollar and U.S. Treasury yields, while stirring investor optimism of a possible peak in inflation even as prominent global central banks continue to hike interest rates at a hawkish pace.

According to Reuters, MSCI's broadest index of Asia-Pacific shares outside Japan climbed by 0.4% by 1:51am ET, helped by a 1.2% and 0.5% soar in Chinese blue chip stocks and Australian shares respectively. Additionally, Japan’s Nikkei also inched up by 1.2%. S&P 500 futures and Nasdaq futures edged higher by 0.2% and 0.4% respectively.

Shares in Asia also gained after China revealed late on Wednesday that it will be slashing banks’ reserve requirement ratios (RRR) in the near future to offset economic losses sustained by the country’s COVID-19 curbs and lockdowns to counter its present surge.

Invesco’s David Chao contended, "I've argued that an upswing in money supply and credit growth could provide a floor for Chinese equities and signal that investor sentiment may soon start to improve, especially if COVID and geopolitical concerns start to wane."

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