Asian stock markets are moving in a positive direction in the wake of the data announced yesterday in the US and showed a new burst of inflation and while investors are once again turning their attention to the efforts of the indebted Chinese Evergrande to avoid collapse.
The colossus of real estate avoided a destabilizing stoppage of payments at the last minute for the third time last month, as broadcast by foreign agencies. This development gave impetus to investment psychology after the concerns of the previous weeks about the risk that the collapse of the Chinese giant under the weight of its debts will trigger chain shocks in the Chinese and world financial system.
In Japan, where investors are expecting a new stimulus package from newly elected Prime Minister Fumio Kishida, the Nikkei 225 is up 0.6% at 29,277.86.
In Hong Kong, the Hang Seng Index gained 1.05%, while the Shanghai Composite rose 1.15%.
South Korea’s Kospi lost 0.2%, while in Australia the S & P / ASX 200 index fell 0.6%. Indices in Singapore and Indonesia are moving with small gains.
The data released yesterday in the US showed a jump in inflation to a high of 31 years, to 6.2% in October, rekindling speculation that the Federal Reserve should move earlier to address inflationary pressures. This led bond yields to record the highest gains in recent months. The yield on the two-year US climbed to 0.51% from 0.41% on Wednesday night, while on the 10-year it strengthened to 1.55% from 1.43%.
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