{"id":1672991,"date":"2022-10-04T22:05:11","date_gmt":"2022-10-05T02:05:11","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1672991"},"modified":"2022-10-04T22:06:09","modified_gmt":"2022-10-05T02:06:09","slug":"asian-stocks-bounce-higher-on-signs-rate-hikes-are-working","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/asian-stocks-bounce-higher-on-signs-rate-hikes-are-working\/","title":{"rendered":"Asian stocks bounce higher on signs rate hikes are working"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fasian-stocks-bounce-higher-on-signs-rate-hikes-are-working%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1672991&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>By Scott Murdoch<\/p>\n<p>HONG KONG (Reuters) \u2013     Asian stocks rose on Wednesday as investors grew hopeful future global interest rate rises might become less aggressive amid early signs previous policy tightening was working to temper price pressures in some major world economies.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>MSCI\u2019s broadest index of Asia-Pacific shares outside Japan was up 0.5%, after U.S. stocks ended the previous session with gains. The index is down 0.6% so far this month.<\/p>\n<p>Australian shares were up 1.35% in early trade, while Japan\u2019s Nikkei stock index climbed 0.34%.<\/p>\n<p>Hong Kong\u2019s Hang Seng Index gained 3.76% a day after its public holiday while mainland Chinese markets remain closed for holidays.<\/p>\n<p>The strong start for Australian shares is the first two-day gain since Sept. 13 and follows the sharemarket\u2019s best day in more than two years on Tuesday after the Reserve Bank of Australia ordered a smaller-than-expected 25 basis points interest rate rise.<\/p>\n<p>On Wall Street, the Dow Jones and S&#038;P 500 indexes staged their biggest two-day rallies in two years as fears of aggressive rate hikes eased.<\/p>\n<p>The positive sentiment was fuelled after U.S. job openings fell by the most in nearly 2-1\/2 years in August in a sign the Federal Reserve\u2019s mission to tame demand by hiking rates was working.<\/p>\n<p>\u201cMarkets (have) clawed back more of the ground they lost in a slippery several weeks on Wall Street, amid hopes the Federal Reserve would moderate its aggressive approach to its plans for interest rate increases after data was released showing a drop in job openings in the country,\u201d Ord Minnett research analyst wrote in a client note on Wednesday.<\/p>\n<p>However, in a sign some central banks are still anxious about inflation, New Zealand raised its rates 50 basis points on Wednesday, as expected, but said it had considered a 75-basis point increase.<\/p>\n<p>The Dow Jones Industrial Average rose 2.8%, the S&#038;P 500 gained 3.06% and the Nasdaq Composite added 3.34%.<\/p>\n<p>The S&#038;P 500 has recorded its third-best start to an October since 1930, according to Macquarie analysts.<\/p>\n<p>\u201cGlobal financial markets have staged a sharp recovery buoyed by expectations that central banks may follow the RBA\u2019s lead and ease the pace at which they tighten monetary policy,\u201d ANZ analysts said.<\/p>\n<p>\u201cViews are mixed as to whether markets have now bottomed out or whether this recovery will be short-lived.\u201d<\/p>\n<p>The yield on benchmark 10-year Treasury notes  rose to 3.625% compared with its U.S. close of 3.617% on Tuesday.<\/p>\n<p>The two-year yield, which rises with traders\u2019 expectations of higher Fed fund rates, touched 4.0905% compared with a U.S. close of 4.097%.<\/p>\n<p>The dollar dropped 0.21% against the yen to 143.79..   <\/p>\n<p>The euro slipped 0.1% on the day to $0.9974, having gained 1.79% in a month, while the dollar index, which tracks the greenback against a basket of currencies of other major trading partners, was lower, having fallen nearly 4% since Sept. 26.<\/p>\n<p>\u201cThe USD\u2019s significant move lower since making a new 20 plus year high last Wednesday, is an entirely logical response to the combination of smartly lower US bond yields and much improved risk sentiment,\u201d NAB analysts wrote on Wednesday.<\/p>\n<p>U.S. crude dipped 0.15% to $86.39 a barrel. Brent crude fell flight $91.80 per barrel. <\/p>\n<p>Gold was slightly lower. Spot gold traded at $1,724.6667 per ounce. [GOL\/]\n<p> (Reporting by Scott Murdoch in Hong Kong; Editing by Sam Holmes)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/asian-stocks-bounce-higher\/attachment\/people-pass-by-an-electronic-screen-showing-japans-nikkei-share-2\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/tagreuters.com2022binary_LYNXMPEI9401P-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI9401P-BASEIMAGE\" \/><\/a><\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/asian-stocks-bounce-higher\/attachment\/hang-seng-stock-index-in-hong-kong-2\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/tagreuters.com2022binary_LYNXMPEI9401N-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI9401N-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Scott Murdoch HONG KONG (Reuters) \u2013 Asian stocks rose on Wednesday as investors grew hopeful future global interest rate rises might become less aggressive amid early signs previous policy<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1672991","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1672991","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1672991"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1672991\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1672991"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1672991"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1672991"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}