31 Jan 2022
Asian Stocks Rise amid China Technology Shares Rally
The Index Today
Stocks surged on Monday as a rally of Chinese technology shares persisted. This comes as U.S. equity futures steadied after worries surrounding tightening Fed monetary policy faded.
Asia-Pacific equities climbed for the second day in a row, spurred by a Hong Kong tech index rally which has wagered that the worst of Beijing’s suppression of tech shares may be past. This comes as major markets remain closed in China on the occasion of the Lunar New Year holiday.
NASDAQ and S&P 500 contracts oscillated as European ones surged by more than 1%. Experts have predicted a temporary stable period for stocks while the outlook of S&P 500 speculative wagers for the futures market remain the most positive since 2018.
According to analysts at BCA Research Inc., “Stocks often suffer a period of indigestion when bond yields rise suddenly, but usually bounce back as long as yields do not move into economically restrictive territory.”