{"id":2014950,"date":"2023-08-28T23:37:02","date_gmt":"2023-08-29T03:37:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bonds-rally-stocks-drift-as-china-boost-fades\/"},"modified":"2023-08-28T23:39:38","modified_gmt":"2023-08-29T03:39:38","slug":"bonds-rally-stocks-drift-as-china-boost-fades","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bonds-rally-stocks-drift-as-china-boost-fades\/","title":{"rendered":"China&#8217;s boost fades, causing stocks to drift while bonds rally."},"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%2Fbonds-rally-stocks-drift-as-china-boost-fades%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=2014950&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--><div class=\"entry-content\">\n<h2>Asian Equity Markets Struggle for Direction<\/h2>\n<p>By Tom Westbrook<\/p>\n<p>In the world of Asian equity markets, the\u200d struggle for direction continues. The initial bounce \u200bfrom Beijing&#8217;s efforts \u200dto support stocks has\u200c started to fade, leaving investors uncertain. Meanwhile, bonds \u200bare rallying and the dollar \u200bis dipping, all while\u2064 eagerly awaiting the release of U.S. labor and manufacturing data later this week.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>There is a growing \u200dexpectation that the upcoming data\u2062 points could disappoint, leading to further uncertainty. As a result, U.S. Treasuries are seeing extended\u2063 gains, pushing\u200c yields down. The dollar is also feeling\u2063 the \u200dpressure, slipping \u200bbelow its 200-day moving\u2062 average\u2063 against the euro and showing weakness against other major currencies.<\/p>\n<p>One\u200d outlier in the currency market is the yen, which remains\u200d near a 10-month low.\u2064 This has traders on edge, concerned about the potential for intervention. The yen&#8217;s current exchange rate\u2063 is 146.34 per dollar.<\/p>\n<p>Despite the overall uncertainty, there are \u2063some positive signs \u2064in the equity markets. MSCI&#8217;s broadest index of Asia-Pacific shares outside Japan and Japan&#8217;s Nikkei both rose by 0.4%.<\/p>\n<p>However, the situation in Hong Kong \u2062and\u2063 China is less \u2064optimistic. After an \u2062initial strong \u200dopening, both markets gave up most of their gains. Commodities also remain unloved.\u200d Damian Rooney, a dealer at Argonaut Securities in\u200c Perth, explains that <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bonds-rally-stocks-drift-as-china-boost-fades\/\" title=\"China's boost fades, causing stocks to drift while bonds rally.\">measures cutting stock-trading duties<\/a> do \u2062little for the economy.<\/p>\n<p>China recently announced \u200ca halving in stock-trading stamp duties and approved\u2064 guidelines for affordable\u2064 housing. Despite these efforts, Hong Kong&#8217;s Hang Seng closed only slightly \u2062higher on Monday and experienced a 1% increase in early trade on Tuesday. Mainland blue chips remained flat, and foreign outflows from\u200c the mainland stock\u200b market are at a record high for the month.<\/p>\n<p>Even \u2062during the market bounce, foreign investors continued to sell Chinese stocks, \u2063resulting in \u200ca net outflow \u2062of $1.1 billion. This trend has persisted \u200din 15 \u200bout of the previous 16 sessions,\u200d putting downward \u200bpressure on the yuan.<\/p>\n<p>The \u200byuan has stabilized at 7.2876 per dollar.<\/p>\n<p>One area of concern \u200dis the property sector, which is impacting the overall \u200deconomy. Shares in \u200dChina Evergrande, an indebted developer, dropped nearly 80% upon their return from\u2062 suspension on Monday and fell an additional 6% on Tuesday.<\/p>\n<p>While there are \u2064challenges in the market, individual shares \u2062offer some brighter spots. Conglomerate 3M saw a\u200d 5% jump in its shares after\u2063 announcing a $6 \u200cbillion settlement for a lawsuit over its earplugs, which was smaller than expected. Goldman Sachs shares also rose after striking a \u2063deal to sell part of \u2063its wealth business.<\/p>\n<p>In \u200bNew Zealand, shares in \u2062Tourism Holdings, the world&#8217;s \u200dlargest campervan rental company, surged 13% after reporting a record underlying profit.<\/p>\n<p>In the currency market,\u200b sterling, the Australian dollar, and the \u2064New Zealand dollar made small gains. Brent crude futures slipped slightly to $84.27 a barrel in the commodities market. U.S. job openings figures are due on Tuesday, followed by broader labor market data and \u2063the ISM manufacturing survey on Friday.<\/p>\n<p>Overall, there is anticipation of a potential slowdown in the labor market and a cooling of inflationary pressures.<\/p>\n<p>Additional reporting by Jason Xue in Shanghai. \u2062Editing by Sam Holmes<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/bonds-rally-stocks-drift\/attachment\/file-photo-people-walk-past-a-screen-displaying-the-hang\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Peter Navarro Testifies in Federal Court<\/h3>\n<p>Former senior \u200cTrump White House \u2063aide Peter Navarro\u2063 testified Monday in a federal \u200ccourtroom on charges of defying a Democrat-appointed \u2064House \u2062J6 Select Committee subpoena.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>UNC Chapel \u200dHill on Lockdown<\/h3>\n<p>UNC Chapel Hill goes on lockdown and Judge Chutkan sets Trump&#8217;s alleged Election Interference trial date just before \u200dSuper \u200bTuesday.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Mark Meadows&#8217; Trial Moves to Federal Court<\/h3>\n<p>National Legal and Policy Center legal counsel \u200bPaul Kamenar says former Trump Chief-of-Staff Mark Meadows has &#8220;a good \u200dchance&#8221; of succeeding in his bid to \u2064move his trial on charges \u200bof tampering with the 2020 election to \u2062federal court.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Cameras Banned from Bryan Kohberger&#8217;s Trial<\/h3>\n<p>Lawyers for Bryan Kohberger asked an Idaho judge to \u2063ban cameras from the courtroom.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Social Media Platform X Faces Disruption<\/h3>\n<p>(Reuters) &#8211; Social\u200c media platform X, formerly known as Twitter, was\u200d back \u2063up\u200b on Monday after facing a disruption in the United \u200dStates&#8230;<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>Tech Leaders to Meet\u200b with\u200b Chuck Schumer<\/h3>\n<p>By Richard Cowan and Kanishka Singh WASHINGTON (Reuters) &#8211; U.S. Senate Majority Leader Chuck Schumer will host tech leaders including Tesla CEO Elon&#8230;<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>New Data Center Chip from Intel<\/h3>\n<p>By Stephen Nellis (Reuters) &#8211; Intel on Monday said a new <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/nvidia-ceo-sees-large-space-for-china-sales-despite-u-s-restrictions\/\" title=\"Nvidia CEO sees \u2018large space\u2019 for China sales despite U.S. restrictions\">data center chip<\/a> coming out next\u2063 year will handle more than&#8230;<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<h3>South Korea Toughens Sentencing for Stealing Industrial Secrets<\/h3>\n<p>SEOUL (Reuters) &#8211; South Korea said \u2063on Monday it will toughen sentencing for stealing industrial\u2064 secrets, after \u200dconcerns that current regulation was&#8230;<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Asian equity markets were uncertain on Tuesday as the impact of Beijing&#8217;s support for stocks faded. Meanwhile, bonds saw gains and the dollar weakened in anticipation of upcoming U.S. labor and manufacturing data. There is a growing belief that these data points may be weaker than expected.<\/p>\n","protected":false},"author":66,"featured_media":2014951,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2014950","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2014950","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=2014950"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2014950\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2014951"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2014950"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2014950"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2014950"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}