Asian stocks have extended last week's rally, led by China shares, amid talk that all of Beijing's small policy steps might actually add up to real stimulus at some stage. Japanese shares have also been doing well, with the Topix marking a 33-year high in the wake of data showing recurring profits at Japanese companies hit a record in the second quarter. Companies are holding an astonishing 555 trillion yen ($3.80 trillion) of earnings in reserve, which is more than the entire 447 trillion market capitalisation of the Topix.
(Bloomberg) Traders trying to push Japanese shares back up to three-decade highs face increasing obstacles — including selling by global funds that helped fuel this year’s gains. Most Read from BloombergWeWork Tumbles After Raising ‘Substantial Doubt’ About FutureEveryone Wants to Work at UPS After Teamsters DealUS Bank Shares Drop as Moody’s Cuts Ratings, Warns on RisksWall Street WhatsApp, Texting Fines Exceed $2.5 BillionMusk Says He May Need Surgery, Will Get MRI on Back and NeckThat’s th
(Bloomberg) Stocks in Asia gained at the start of a busy week that will see a wave of central bank decisions as easing bets on policy change in Japan buoyed sentiment.Most Read from BloombergThe Bear Market Has Nearly Been Erased, Fewer Than 20 Months After It BeganPutin Warns Poland Over ‘Aggression’ Against Ally BelarusUS Recession Becomes Closer Call as Economists Rethink ForecastsWhy South Africa Is on the Brink of ChaosOil Trader Vitol Doubled Average Pay on Record $15.1 Billion ProfitEq
(Bloomberg) Asian stocks turned lower Friday amid elevated bond yields following a spate of central bank rate hikes.Most Read from BloombergTitanic Sub Crew Dead After Vessel’s Catastrophic ImplosionThese Are the World’s Most (and Least) Liveable Cities in 2023Titanic Sub Search Chases Mystery Noises as Air Runs LowDebris Found Near Titanic Wreck in Search for Missing VesselModi Meets With Elon Musk and Ray Dalio as Global Money Flocks to IndiaJapanese shares erased initial gains as investors