Close Menu
American FocusAmerican Focus
  • Home
  • Binance
  • Bitcoin
  • Business
  • CoinDesk
  • Crypto
  • ESG
  • Finance
  • Market
  • Stocks
  • Trading

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

What's Hot

Binance ties to Kenyan crypto board raise monopoly concerns: Report — TradingView News

June 29, 2025

Crypto-crazy investors make South Korea the best-performing market in Asia

June 29, 2025

Malaysia’s anti-graft agency targets ex-finance minister Daim Zainuddin’s $1.36 billion assets: NST

June 29, 2025
Facebook X (Twitter) Instagram
  • Home
  • About Us
  • Advertise with Us
  • Contact us
  • DMCA
  • Privacy Policy
  • Terms & Conditions
Facebook X (Twitter) Instagram
American FocusAmerican Focus
  • Home
  • Binance
  • Bitcoin
  • Business
  • CoinDesk
  • Crypto
  • ESG
  • Finance
  • Market
  • Stocks
  • Trading
American FocusAmerican Focus
Home»Stocks»Asian stocks climb as China stimulus aids sentiment; currencies muted

Asian stocks climb as China stimulus aids sentiment; currencies muted

JournalistBy JournalistDecember 10, 2024No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Reddit Telegram Email
Share
Facebook Twitter LinkedIn Pinterest Email


* China stocks jump nearly 3% amid China policy shift * S.Korean won rises 0.5%, shares jump over 2% * Investors await U.S. CPI print for cues on rate outlook By John Biju Dec 10 – Emerging Asian equities rose on Tuesday following China’s pledge for additional policy stimulus to boost economic growth and ease monetary policy, while South Korean shares rebounded after a sharp decline in the previous session amid political turmoil. South Korean shares jumped as much as 2.4% after hitting a 13-month low on Monday, as equities and the won came under pressure due to deepening political tensions following a failed impeachment motion against President Yoon Suk Yeol. The won advanced 0.5% in early trade on Tuesday. “Authorities have been quick to communicate with rating agencies and investment community, in an attempt to calm markets,” said Christopher Wong, a FX strategist at OCBC. “The moves so far in FX markets may look excessive in the short term. While political uncertainty in Korea may temporarily weigh on KRW , but this should fade once we get more clarity.” Chinese state media outlet Xinhua reported on Monday the top Communist Party officials had shifted the monetary policy stance from “prudent” to “moderately loose”, similar to their approach during previous crises. The move aims to stabilize markets and “vigorously” boost consumption. It sent the Chinese long-dated government bond yields to record lows, while equities jumped as much as 2.7% to hit their highest levels in a month. The yuan edged higher. An MSCI gauge of Asian emerging market equities , in which China holds roughly one-third of weightage, jumped as much as 1.4% to mark its best day in more than seven weeks. Equities in the Philippines and Singapore climbed 0.7% and 0.4%, respectively. China’s comments came ahead of the annual Central Economic Work Conference, which is expected to set key targets and policy intentions for next year. “Follow-up policy action is crucial, and bear in mind markets are impatient. We caution that any delay in concrete policy action may setup a case for disappointment,” OCBC’s Wong said. Wong sees some support for Asian currencies including the yuan, the South Korean won, the Taiwan dollar, the Singapore dollar and the Malaysian ringgit. The Taiwan dollar nudged higher but shares declined 0.5%. Taiwan’s defence ministry reported a surge in Chinese military activity around the island, including 47 military aircraft, as Taiwan remained on high alert following the return of its president from a U.S. trip. Currencies in the region were mostly flat ahead of crucial U.S. CPI data on Wednesday, which is expected to strengthen expectations of a rate cut by the Federal Reserve at its meeting later this month. HIGHLIGHTS: ** China regulators tell banks to expedite offshore company listings, sources say ** Thailand posts 20% drop in low-quality Chinese imports, official says ** India names Sanjay Malhotra to replace Shaktikanta Das as central bank governor Asian stocks and currencie s as at 0331 GMT COUNTRY FX RIC FX FX INDEX STOCK STOCK DAILY YTD % S S YTD % DAILY % % Japan -0.03 -6.72 0.09 17.13 China 0.09 -2.09 1.39 15.97 India -0.06 -1.85 0.00 13.29 Indonesia -0.09 -3.02 -0.09 2.18 Malaysia -0.11 3.68 0.03 10.81 Philippin 0.11 -4.39 0.65 4.25 es S.Korea 0.49 -9.80 1.98 -9.33 Singapore 0.02 -1.57 0.42 17.60 Taiwan 0.08 -5.26 -0.51 29.13 Thailand 0.24 1.41 – 2.24

This article was generated from an automated news agency feed without modifications to text.



Source link

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Journalist
  • Website

Related Posts

An entry-level guide to valuing stocks

June 28, 2025

FBM KLCI rebounds from two-month low, energy stocks rise amid escalating Mideast tensions

June 23, 2025

Stock market news for June 23, 2025

June 22, 2025
Leave A Reply Cancel Reply

Don't Miss

Charting his own course: How a business degree helps this national sailor prepare for life after sport

Business June 26, 2025

National sailor Ryan Lo is used to setting his sights on the finish line in…

US durable goods orders soar in May

June 26, 2025

20 Game-Changing AI Tools Every Small Business Leader Needs Now

June 23, 2025

Hong Kong stock rally shakes up investor playbook for China

June 22, 2025
Our Picks

Binance ties to Kenyan crypto board raise monopoly concerns: Report — TradingView News

June 29, 2025

You Won’t Believe Who’s Moving Millions in Bitcoin on Binance Right Now — TradingView News

June 28, 2025

New Binance Report: Bitcoin Now Supporting, Not Hedging, the Dollar

June 24, 2025

Sahara Token Rockets 40389% on Binance Listing Announcement

June 23, 2025
About Us
About Us

Welcome to American Focus, your trusted source for the latest news and insights on the world of cryptocurrency, trading, and digital assets. We are passionate about providing accurate, timely, and comprehensive information to help you navigate the dynamic landscape of the crypto market.

At American Focus, we cover everything from the basics of Bitcoin to in-depth analyses of platforms like Binance and CoinDesk

Facebook X (Twitter) Pinterest YouTube WhatsApp
Our Picks

Binance ties to Kenyan crypto board raise monopoly concerns: Report — TradingView News

June 29, 2025

Crypto-crazy investors make South Korea the best-performing market in Asia

June 29, 2025

Malaysia’s anti-graft agency targets ex-finance minister Daim Zainuddin’s $1.36 billion assets: NST

June 29, 2025

Subscribe to Updates

Subscribe to our newsletter and never miss our latest news

Subscribe my Newsletter for New Posts & tips Let's stay updated!

© 2025 americanfocus. Designed by americanfocus.
  • Home
  • About Us
  • Advertise with Us
  • Contact us
  • DMCA
  • Privacy Policy
  • Terms & Conditions

Type above and press Enter to search. Press Esc to cancel.