This translation has been automatically generated and has not been verified for accuracy.A positive start in Europe nudged the main world share indexes and bond yields higher on Thursday, after the U.S. Federal Reserve’s second interest rate cut of the year while Japan and others kept their limited remaining powder dry.
MSCI’s broadest index of Asia-Pacific shares had ended down 0.5% as a 1% fall in Hong Kong and 1.1% drop in India offset 0.4% gains on Japan’s Nikkei and from China’s bluechip stocks. “This is not ‘QE4ever’ as we’ve heard it called,” analysts at RBC said of the Fed’s decision and signals. “We shouldn’t go too far in putting on QE-like trades”.
“There were large yen-buying orders before the BOJ, and that just carried through,” said Tohru Sasaki, head of Japan markets research at J.P. Morgan Securities in Tokyo.In contrast to Europe’s upward shuffle, U.S. stock futures were pointing to modest 0.1%-0.2% falls for Wall Street later. “This is a small positive for share prices as long as there is no recession,” said Shane Oliver, head of investment strategy and chief economist at AMP Capital Investors in Sydney.
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