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Asia stocks bounce, investors no clearer on Fed

Stocks

Asian shares bounced modestly on Tuesday as doubts the Federal Reserve would hike interest rates next month restrained the dollar, while investors continued to count on more policy stimulus elsewhere in the world.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.5 per cent, recouping around half of Monday’s loss. Stocks in South Korea added 0.4 per cent and Australia 0.3 per cent.

Futures pointed to similar gains for German and French bourses and a dip for London, while EMini futures for the S&P 500 barely budged.

Japan’s Nikkei went flat as the yen stopped falling following a sharp drop late last week.

A raft of Japanese data, from unemployment to retail sales, mostly beat analysts’ forecasts but did nothing to change expectations the Bank of Japan would eventually have to ease further.

Paul

The author Paul