Singapore's Ftse Straits

After China's premier called for additional efforts to support growth, Thailand's economy grew firmly in Q1 and world leaders urged Greece to stay in the euro zone, Asian stocks recovered some of last week's losses, the yen slid while commodities gained. The MSCI Asia Pacific Index added 0.5% at 12:56 in Tokyo as worries eased on believes China and Japan may take steps to support growth, while world leaders called for Europe to balance austerity with growth during the G-8 summit. China's Premier Wen Jiabao said over the weekend that his country must adopt a “proactive fiscal policy and a prudent monetary policy” to support growth, spurring speculations of additional stimulus since inflation is moderating. Meanwhile, Japan is expected to ease its monetary policies even more during BoJ's ...

Amid thinner-than-usual volumes, with markets in Japan being closed for holiday, Asian stocks dropped, where the MSCI Asia Pacific Excluding Japan Index fell 0.4% at 13:03 in Hong Kong, on disappointing data that fueled doubts over recovery. Sentiment turned negative after manufacturing in the eurozone slipped deeper into contraction, unemployment unexpectedly rose in Germany, while the US added fewer than expected jobs in April, darkening the outlook for Friday’s key non-farm payrolls report. Furthermore, the jobless rate rose in New Zealand during this year’s first quarter to the highest level since 2010 at 6.7% from 6.4% previous, raising more fears over global growth, while Australia’s performance of services dropped to 39.6 from 47.0, and China’s services PMI fell to 56.1 in April ...

Asian stocks dropped today as markets anxiously await the release of the US employment numbers to take the economic pulse of the country. Greece’s failure to reach a deal with private bondholders, China’s poor performance of services and Japan’s downbeat earnings added to pessimism. For another week Greece and the private bondholders fail to reach an agreement over the size of the losses they are willing to accept on Greek bondholding. A deal will ensure a second bailout for the indebted nation and avoid a messy default and their incapability to agree is raising concerns. Meanwhile in Japan, after the busiest week of this earnings season the outlook for this year seems gloomy. Panasonic, Nippon Sheet Glass and Oji Paper joined Sony, Fujitsu, Sumitomo Heavy, Honda and Sharp by cutting ...

Asian stocks dropped on Monday as investors turned cautious increasing their appetite for safe haven ahead of the first EU summit in 2012, awaiting the outcome of the Greek debt talks. The MSCI Asia Pacific Index fell 0.8% at 15:44 in Tokyo. European leaders will meet in Brussels today for their first summit of 2012 to agree “agree on a balanced budget rule in national legislation”, where job creation and growth will be in focus, while Greece might dominate the talks. Greece might be on the verge of reaching a deal with bondholders over the size of the losses. Talks between the government and the IIF progressed last week as creditors seemed to be willing to accept a bigger loss. Sentiment turned negative since Friday, when the US released a slower-than-expected GDP report while the ...

Asia stocks were mixed today, with the gains being led by the progress seen in the talks over the Greek debt swap and the possible intervention by BoJ to weaken the yen, meanwhile the cautiousness ahead of the US GDP data kept gains limited, with the MSCI Asia Pacific Index being little changed. The talks between Greece government and the bondholders over the size of the losses will continue today, yet the Institute of International Finance which represents private creditors said yesterday that some progress has been made, which determines investors to be awaiting the outcome of the talks. After the Feds announced this week the interest rates could stay close to zero “at least through 2014” to support recovery, markets are anxiously waiting for the US GDP report released later in the day, ...

While volumes continue to be thinner since markets in Australia, India, China and Taiwan are closed for public holidays, gains were seen across Asia as Greek debt talks resume, while the Feds announced yesterday that interest rates could stay close to zero “at least through 2014”, pushing the dollar sharply down. In Greece, International Institute of Finance returns to Athens to resume talks with bondholders over the size of the losses in order to avoid a messy default; meanwhile officials from the ECB said they remained against accepting voluntary losses yet will debate how to handle any forced losses. The World Economic Forum in Davos, Switzerland, continues for its second day on Thursday, German Chancellor Angela Merkel left the ski resort to meet Spanish Prime Minister Mariano Rajoy ...

As the European debt auction were successful this week, while Greece is closer to reach a an agreement with bondholders, and the upbeat economic data and earnings from the US yesterday, risk appetite was boosted pushing the MSCI Asia Pacific Index 1.1% higher, or 3.1% up this week. The French and Spanish bond auctions were solid yesterday, just like Portugal’s auction yesterday, pushing the yields down. Meanwhile Morgan Stanly and Bank of America posted better than expected earnings yesterday, while the U.S. jobless claims fell to the lowest in almost 4-years, sending Wall Street higher. Sentiment is positive as Greece getting closer to reach an agreement with bondholders over the size of the losses in order to avoid a messy default, easing the worries over Europe’s crisis. Meanwhile ...

Markets continued to feel optimistic today, increasing their demand on the higher yielding assets including equities, as the IMF’s intention to expand its lending resources by $500 billion to help the euro-zone countries fight the debt crisis, which eased worries about Europe's funding difficulties. The International Monetary Fund is seeking to more than double its lending resources, yet the U.S. and some other countries are rejecting the idea, considering that the Europe must solve this problem with its own money. Meanwhile Portugal’s yields fell today a successful auction yesterday. More relief was felt in Asia on reports showing China considers easing the capital requirements and is letting its five biggest banks boost lending to avoid hard landing risks, while Greece is expected soon ...

The MSCI Asia Pacific Index advanced today 0.3% at 16:28 in Tokyo, although the World Bank cut its growth forecasts by the most in three years, yet optimism improved as the manufacturing data in the US expanded by the fastest pace in nine months while the German investor confidence jumped the most on record. The World Bank believes that Europe's crisis and the weaker growth in developing countries is raising the risks of slowing down the emerging markets. The world economy will grow 2.5% this year compared with June's estimate of 3.6%, while the euro area may contract 0.3% from a previous estimate of a 1.8% gain. Yet sentiment continued to be positive in Asia supported also by South Korea's rise in the department store sales by the most in eight months, while Greek Prime Minister will ...