Thursday, 9 February 2017

Asian stocks tread water on US cues, Europe concerns

Ripples Advisory Private Limited, Indore @9303093093

Asian stocks looked set to consolidate around four-month highs on Thursday as a cautious Wall Street close and growing political risks in Europe force investors to the sidelines. MSCI's broadest index of Asia-Pacific shares outside Japan was broadly flat, with early Asian markets such as Australia hemmed in tight ranges. 

New Zealand stocks edged higher after the central bank signalled that a further cut in interest rates was no longer likely, but also that any tightening in policy might be two years or more away. Political concerns, including a strong showing by far-right candidate Marine Le Pen in France's presidential race, have pushed up premiums demanded by investors to buy French debt over comparable bonds and pushed the yen and US Treasuries higher.

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