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Asia
Stocks Rise on Expectation of Monetary Policy Easing, Asian stocks climbed
for a fifth day, the longest rising streak on the regional benchmark index
since March, on expectations that central banks from Washington to Frankfurt
may ease monetary policy to spur economic growth.
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Unemployment
in the 17-nation euro area reached the highest level on record as a deepening
economic slump and budget cuts prompted companies from Spain to Italy to reduce
their workforces, a report showed yesterday.
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Australia’s central bank kept
interest
rates unchanged after cuts in the previous two months as domestic
employment strengthens and the local currency’s biggest gain in eight months
helps contain inflation.
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Japan's
Nikkei share average
opened slightly firmer on Tuesday after surprise weakness in U.S. manufacturing
data fanned renewed speculation the U.S. Federal Reserve may step in to boost
growth.
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The
purchasing managers’ index rose to a three-month high of 56.7 in
June from 55.2 in May, the National Bureau of Statistics and China Federation
of Logistics and Purchasing said in Beijing today
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Oil
rebounded in New York
on signs that central banks from Europe to China may ease monetary
policy to spur economic growth and speculation sanctions against Iran will curb
supply.
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The dollar index edged
back against major rivals in Asian trading hours on Tuesday, with investors on
alert for central bank.
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Gold
edged higher on Tuesday, after weak manufacturing data across the globe
rekindled hopes for more easing from central banks to support recovery
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Asia's
physical gold market fell back into slumber after short-lived excitement late
last week when bullion dropped below $1,550 per ounce before staging a
3-percent rally.
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Treasuries
snapped a gain from yesterday on speculation the European
Central Bank will cut borrowing costs this week to stimulate growth,
reducing demand for the relative safety of U.S. securities.
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The
Federal Reserve will
increase its asset purchases at its September meeting as it strives to support
the U.S. economy,
increasing inflation expectations and sending yields higher, according to Bank
of America, one of the 21 primary dealers that trade directly with the central
bank.
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Microsoft
Corp. (MSFT) is taking a $6.2 billion write-down for almost the
entire amount it paid for Internet-advertising company AQuantive Inc.,
signaling that its online division will perform worse than the company
projected.
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A
U.S. judge on Monday rejected a request by Samsung Electronics Co. to lift a
ban on U.S. sales of its Galaxy Tab 10.1, another setback for the South Korean
firm in its tablet patent battle with iPad maker Apple Inc
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