Asian index futures
advanced after U.S. stocks halted a November slump as global financial
markets showed resilience in the face of the Paris attacks, with
investors refocusing attention on the prospects for additional monetary
stimulus after the worst week for equities in two months.
Australian S&P/ASX
200 index rose 0.9 percent by 8:32 a.m. in Tokyo Tuesday, recovering
much of Monday’s slide, while contracts on Japanese, Korean and Hong
Kong equities gained in their most recent trading. Futures on the
Standard & Poor’s 500 Index were little changed after the gauge had
jumped the most in three weeks, rebounding from a three-day selloff .
European equities shrugged off declines to close higher as France
expanded a bombardment in Syria. Oil rose and the yen weakened for a
second day.
Demand for haven
assets faded over the course of the first trading day since the Paris
attacks on Friday, as the history of terror incidents around the world
over the last 15 years shows market reactions are often sharp and,
increasingly, short-lived. European shares initially retreated before
erasing the loss in trading about one-fifth below the 30-day average,
while the yen weakened versus the dollar.
Global equities fell
last week by the most in two months on speculation an October rally had
gone too far, too fast amid renewed signs that economies from China to
Europe were slowing. The rebound Monday was led by commodities producers
that fell the most a week ago. Two-year Treasury notes halted an
advance as futures traders bet the Federal Reserve remains on track to
boost rates as soon as next month.
Source: Bloomberg
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