GLOBAL MARKETS-Asian shares hover near record high, risk currencies in favor

GLOBAL MARKETS-Asian shares hover near record high, risk currencies in favor

Reuters  | Dec 31, 2020 08:50

GLOBAL MARKETS-Asian shares hover near record high, risk currencies in favor

NEW YORK, Dec 30 (Reuters) - Asian shares are set to end a
tumultuous 2020 by hovering near record highs on Thursday while
riskier currencies cruised near 2-1/2-year peaks, buoyed by
hopes that COVID-19 vaccine rollouts will help the world beat
the pandemic.
The upbeat mood, reflected in overnight gains on Wall
Street, drubbed the "safe-haven" dollar and drove currencies
such as the euro, sterling, the Australian dollar and the New
Zealand dollar overnight to highs not seen in more than 2-1/2
E-Mini S&P futures ESc1 rose 0.11% to 3,728.5, while
MSCI's gauge of Asia-Pacific shares excluding Japan
.MIAPJ0000PUS was little changed at 661.76, a hair's breath
from its record high of 661.80.
For the year, the MSCI index is up nearly 20%, outpacing a
15.5% gain in the U.S. S&P 500 .SPX . .N
Australian shares .AXJO lost 0.23% while the Japanese
stock market is shut on Thursday.
Investors looking forward to a brighter 2021 will be eyeing
China's official manufacturing Purchasing Manager's Index for
December, due on Thursday at 0100 GMT.
Analysts expect the index to show China's factory sector
growing at a solid pace in December as the world's
second-largest economy steadily rebounds from the coronavirus
crisis. Still, some analysts warned that this year's heady gains in
global stock markets could mean a lot less room for further
appreciation in 2021.
"We'd say 80% of all the baseline good news expected in 2021
is already incorporated," analysts at DataTrek Research said in
a note, adding that some "real surprises" would be needed next
year for the U.S. stock market to rise another 10%.
For now, however, healthy risk appetites kept investors from
the U.S. dollar.
The struggling dollar dropped 0.46% to 89.59 against a
basket of currencies =USD , plumbing a low not seen since April
A listless dollar helped the euro EUR=EBS stand firm at a
32-month high of $1.2298. Sterling GBP=D3 was also steady
$1.3611, a level last seen in May 2018. The Australian dollar
AUD=D3 and New Zealand dollar NZD=D3 also held their ground
at their respective 32-month highs of $0.7665 and $0.7215.
A battered dollar also supported gold XAU= , with bullion
prices up a touch at $1,894.225 an ounce. GOL/
Oil prices bucked the trend, however, retreating a shade as
swelling year-over-year supply led some traders to view any
economic recovery ahead to be gradual rather than swift.
U.S. West Texas Intermediate crude CLc1 shed 0.02% to
trade at $48.39, far below about $62 at the start of 2020. O/R
Treasuries were little changed, with benchmark U.S. 10-year
yields 10YT=RR at 0.9264% and two-year yields US2YT=RR at

Global assets
Global currencies vs. dollar
Emerging markets
MSCI All Country Wolrd Index Market Cap

Related News

Latest comments

Add a Comment
Please wait a minute before you try to comment again.
Write a reply...
Please wait a minute before you try to comment again.

Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.

English (USA) English (UK) English (India) English (Canada) English (Australia) English (South Africa) English (Nigeria) Deutsch Español (España) Español (México) Français Italiano Nederlands Polski Português (Portugal) Português (Brasil) Русский Türkçe ‏العربية‏ Ελληνικά Svenska Suomi עברית 日本語 한국어 简体中文 繁體中文 Bahasa Indonesia Bahasa Melayu ไทย Tiếng Việt हिंदी
Sign out
Are you sure you want to sign out?
Saving Changes


Download the App

Get free real time quotes, charts and alerts on stocks, indices, currencies, commodities and bonds. Get free top of the line technical analysis/predictors. is better on the App!

More content, faster quotes and charts, and a smoother experience is available only on the App.