Asian stocks on recovery mode as investors reassess recession fears, bond yields rise
|Asian stock markets were on recovery mode during early Tuesday as fears concerning the US recession seem to fade recently with the bond yields taking a U-turn from lows.
Shares in Japan were the biggest Asian gainers with Topix index rising nearly 2.0% by the press time. Reuters also reported a 0.3% gain of the MSCI’s broadest index of Asia-Pacific shares outside Japan against 1.4% previous loss.
Australian shares remained mostly flat with a soft print of weekly ANZ/Roy consumer confidence survey confronting the Reserve Bank of Australia's (RBA) Assistant Governor (Economic) Luci Ellis.
Stocks in India were up nearly 0.2% whereas the Shanghai Composite Index was down 1.0% as investors expect a further downgrade in earnings from the dragon nation.
Yields on the 10-year US treasury bonds recover from 2.377% to 2.425% as investors reassess speculations of the US economy declining back to 2007 like a recession.
Looking forward, investors may observe developments surrounding the US-China trade talks and comments from the Federal Reserve Bank of Chicago President Charles Evans in order to determine near-term trade bias. In the European session, German GfK consumer survey should gain market attention.
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