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."
Gold prices drop following gains in US yields and dollars
Oil prices steady on economic recovery optimism
Apple to launch silicon design centre in Germany
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.
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."
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.
Hong Kong stock exchange shares fell more than 3% on Thursday as investors raised concerns about the political and regulatory risks involved in its $39 billion approach to take over London Stock Exchange (LSE).
Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, and Manuel Tovar Rivera, Minister of Foreign Trade of the Republic of Costa Rica,
Alibaba Group plans to split into six units and explore fundraisings or listings for most of them, it said on Tuesday, in a major revamp as China
Saeed Mohammed Al Tayer, MD and CEO of Dubai Electricity and Water Authority (Dewa), has received a delegation from Dubai Airports headed by Paul Griffiths,