Picture used for illustrative purpose. File
Gulf Today Report
Asian stocks rebounded as global bond yields dropped and Chinese shares bounced back after a recent decline.
Japan's Nikkei was little changed while MSCI's ex-Japan Asia-Pacific shares index rose 0.2%, a day after it hit a two-month low. The CSI300 index of mainland China's A-shares rose 0.4%.
Hiroshi Watanabe. Senior economist at Sony Financial Holdings said, "markets are giving full attention to bonds. As earnings are not growing that fast right now, the lofty stock prices we have now will become unsustainable if bond yields rise further and undermine their valuation."
Some investors see a real risk of an overheated US economy and higher inflation on the back of planned spending by US President Joe Biden's administration, including a $1.9 trillion stimulus and an even bigger initiative on infrastructure.
European stocks declined on Wednesday due to concerns about rising inflation.
The pan-European STOXX 600 index fell 0.3% by 08:10 GMT, after hitting its highest level since late February 2020 on Tuesday.
The mining, travelling and leisure industries led the decline while telecommunication and real estate recorded gains.
For the second day straight, Abu Dhabi’s main stocks index continued to rise, edging up 0.27 pct to 4, 545 points, with DFM's General Index following suit, and closing 0.11 higher than last session at 2,237 points.
Euronext -- which operates the exchanges of Amsterdam, Brussels, Dublin, Lisbon, Oslo and Paris -- confirmed in a statement "it is currently in discussions with Cassa Depositi e Prestiti (CDP) to submit an offer to London Stock Exchange Group plc for the acquisition of the business and key operational assets of Borsa Italiana."
Most Asian markets fell Monday following another disappointing performance on Wall Street with investors growing concerned about an uptick in coronavirus infections in Europe and the United States, as well as the lack of movement in Washington on a new stimulus.
The Central Bank of the UAE (CBUAE) and the Central Bank of Egypt (CBE) have entered into a Bilateral Currency Swap Agreement between the UAE Dirham (AED) and the Egyptian Pound (EGP).
Dr Thani Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, held talks with Zafrul Aziz, Minister of Investment, Trade and Industry for Malaysia,
Mashriq Elite Developments, a pioneering force in the super-luxury real estate sector across the UAE, has marked a remarkable milestone with the successful launch