Asian Stocks Recovering Yesterday’s Losses

Asian stocks rose, with the regional benchmark index heading for its first weekly advance this year. The South Korean won climbed, oil fell from a four-month high and gold held above $1,300 an ounce.

The MSCI Asia Pacific Index added 0.3 percent as of 10 a.m. in Tokyo, and is on track for a 1.8 percent increase this week. The Topix index climbed 0.3 percent and Standard & Poor’s 500 Index futures were little changed after the gauge closed at the highest since Jan. 22. The won increased 0.5 percent, and is set for its biggest weekly gain since September. West Texas Intermediate crude decreased 0.1 percent and spot gold traded at $1,301.92.

Stocks and developing-nation currencies are rebounding after two rounds of Federal Reserve-stimulus cuts fueled emerging-market outflows and a $3 trillion equity rout. China releases inflation figures for January today, and is due to issue money-supply data today or tomorrow. Germany and France release final-quarter gross domestic product figures, while reports in the U.S. will show industrial production-growth slowed last month and consumer sentiment is weakening in February.


This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Mingze Wu

Mingze Wu

Currency Analyst at Market Pulse
Based in Singapore, Mingze Wu focuses on trading strategies and technical and fundamental analysis of major currency pairs. He has extensive trading experience across different asset classes and is well-versed in global market fundamentals. In addition to contributing articles to MarketPulseFX, Mingze centers on forex and macro-economic trends impacting the Asia Pacific region.
Mingze Wu