Australian shares continued their climb on Tuesday, with technology stocks leading gains, as a rollout of another vaccine in the United States and optimism over a coronavirus relief package boosted hopes of a quicker global economic recovery.
Asian shares are poised to rally on Tuesday as a halt in a recent bond markets sell-off calmed investor nerves and lifted riskier assets, although oil prices were on the defensive on fears of slowing Chinese energy consumption.
Wall Street stocks headed for a subdued start on Tuesday as investors paused to gauge if a jump in bond yields had run its course before dipping back into riskier assets.
Tuesday, 02 Mar 2021 08:18 AM MYT
All eyes will be on Australia’s central bank, which holds its monthly policy meeting today. Reuters pic
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NEW YORK, March 2 Asian shares are poised to rally today as a halt in a recent bond markets sell-off calmed investor nerves and lifted riskier assets, although oil prices were on the defensive on fears of slowing Chinese energy consumption.
Australian shares jumped 0.8 per cent in early trade, while E-mini S&P futures climbed 0.15 per cent. Japan’s Nikkei opened 0.93 per cent higher.
(Bloomberg) The Reserve Bank of Australia doubled down on bond purchases Monday, spurring the biggest drop in yields in a year as policy makers around the world seek to check runaway bets on reflation.The central bank announced plans to buy more than $3 billion of longer-dated securities, following up on a surprise boost in purchases of shorter-maturity debt at the end of last week. Japanese government bonds also advanced while those in New Zealand surged in the wake of an about-face in the American market on Friday.As the global trading day shifts west, yields on German bunds look primed to decline, with attention also turning to bond-buying figures from the European Central Bank. Markets are also awaiting more from key global leaders this week, including Federal Reserve Chair Jerome Powell, who will deliver what are likely to be his final public comments before a mid-month policy meeting.“The Fed may realize that telling the market that they’re ok with what’s h