Asian stocks rose, with the region’s benchmark index set for its biggest two-day rally in a month, as Citigroup Inc. raised global profit estimates and Japan’s shrinking economy lifted chances for more stimulus. The yen and dollar fell against the euro for a fourth day. Silver rallied.
The MSCI Asia Pacific Index added 0.4 percent at 12:33 p.m. in Tokyo, extending yesterday’s 0.9 percent jump. Standard & Poor’s 500 Index futures advanced 0.1 percent. Japan’s currency fell to 116.57 per euro from 116.37 yesterday, while the Dollar Index lost 0.3 percent. The Singapore dollar and Malaysian ringgit both advanced 0.5 percent versus the greenback. S&P’s GSCI Index of 24 raw materials gained 0.2 percent, with silver surging 1.2 percent and oil climbing 0.3 percent in New York.
The Bank of Japan may face increased pressure to add stimulus after the economy shrank more than estimated following the March 11 temblor, while Federal Reserve Bank of St. Louis President James Bullard said the U.S. central bank may keep its monetary-policy unchanged until late this year. Singapore raised its growth forecast for 2011, while Citigroup predicted global per-share earnings may rise 18 percent this year.
“People are increasingly reassured that there’s plenty of liquidity to support markets,” John Praveen, the Newark, New Jersey-based chief investment strategist at Prudential International Investments Advisors, said in a Bloomberg Television interview. “The U.S. economy is going to rebound in the second quarter and interest rates are going to remain low. Reconstruction is going to be funded by public spending and the Bank of Japan’s additional stimulus.”
Read More
http://preview.bloomberg.com/news/2011-05-19/yen-dollar-slide-on-record-stimulus-outlook-asia-stocks-silver-advance.html
The MSCI Asia Pacific Index added 0.4 percent at 12:33 p.m. in Tokyo, extending yesterday’s 0.9 percent jump. Standard & Poor’s 500 Index futures advanced 0.1 percent. Japan’s currency fell to 116.57 per euro from 116.37 yesterday, while the Dollar Index lost 0.3 percent. The Singapore dollar and Malaysian ringgit both advanced 0.5 percent versus the greenback. S&P’s GSCI Index of 24 raw materials gained 0.2 percent, with silver surging 1.2 percent and oil climbing 0.3 percent in New York.
The Bank of Japan may face increased pressure to add stimulus after the economy shrank more than estimated following the March 11 temblor, while Federal Reserve Bank of St. Louis President James Bullard said the U.S. central bank may keep its monetary-policy unchanged until late this year. Singapore raised its growth forecast for 2011, while Citigroup predicted global per-share earnings may rise 18 percent this year.
“People are increasingly reassured that there’s plenty of liquidity to support markets,” John Praveen, the Newark, New Jersey-based chief investment strategist at Prudential International Investments Advisors, said in a Bloomberg Television interview. “The U.S. economy is going to rebound in the second quarter and interest rates are going to remain low. Reconstruction is going to be funded by public spending and the Bank of Japan’s additional stimulus.”
Read More
http://preview.bloomberg.com/news/2011-05-19/yen-dollar-slide-on-record-stimulus-outlook-asia-stocks-silver-advance.html
No comments:
Post a Comment