|Day's Range||10,926.85 - 11,077.99|
|52 Week Range||9,319.28 - 11,261.68|
Most participants are still underinvested in the markets globally, Fink said in an interview with CNBC Tuesday after his company reported earnings. The head of the world’s largest investment firm, with $6 trillion of assets under management, said “huge pools of money” is sitting on the sidelines as investors haven’t rushed back into equities even as the stock market bounced back this year. Fink’s comments come after an already potent rally across multiple benchmark stock indexes this year, with the S&P 500 on the cusp of a record high and the MSCI All-Country World Index about 5 percent away from its January 2018 peak.
ASIA MARKETS Asian markets were mixed in early trading Thursday, tracking Wall Street’s lackluster trading day. Markets largely shrugged off a report that the U.S. and China may sign a long-negotiated trade deal in late May or early June, as well of claims that North Korea test-fired a new tactical guided weapon, its first such test since November.
Asian stocks were mixed in a narrow range Wednesday as China announced its economy grew at a 6.4% annual pace in the last quarter.
“I think it’s just the beginning” of China’s stock rally, said Banny Lam, head of research at CEB International Investment Corp. on Bloomberg Television. “The market right now wants to see the effectiveness of stimulus measures. PMI figures in March actually showed domestic demand is very strong, boosted by that stimulus.
Anyone holding mainland Chinese shares has a wide smile on their face after the first quarter of this year. The Shanghai and Shenzhen markets have been the strongest performers in the world. The longer-term fallout from the trade wars is having worse effect elsewhere in Asia than in the Middle Kingdom.
While the benchmark MSCI Asia Pacific Index has soared 11 percent in 2019, overseas investors were in fact net sellers of the region, exiting $7.39 billion in equities through March 27, according to a report from Jefferies Financial Group Inc. strategists Kenneth Chan and Tommy Tang. Japan appears to account for much of the sell-off, with foreign investors dumping $22.1 billion of the equities in the quarter, the data show. Investors appear to have made the right call as Japanese stocks have underperformed.
While that might sound impressive, it comes in the context of a red-hot global rally, leaving Australia’s performance an unspectacular 31st in a global ranking of major gauges. The Shanghai Composite Index, which tops the leader board, more than doubled Australia’s results with a 24 percent advance in the same period, the data show. The Reserve Bank of Australia left its key cash rate target unchanged at 1.5 percent for a 29th consecutive meeting, as widely expected ahead of the decision.
Asian markets largely gained in early Tuesday trading, a day after a regional sell-off sparked by fresh worries of a U.S. recession.
Asian markets were mixed in early trading Friday, as investors pondered the effects of the U.S. Federal Reserve’s more dovish stance.
Asian markets had a mixed session Thursday after the U.S. Federal Reserve kept interest rates unchanged and indicated there would be no rate hikes for the rest of the year.
Traders woke up to Federal Reserve Chairman Jerome Powell’s comments that the central bank would keep interest rates on hold for “some time” as global risks weigh on the U.S. economy and inflation remains muted. It’s the most intense day for earnings in Hong Kong since October 2017, with the benchmark gauge on the brink of a bull market and traders looking for any signs the good times will continue to roll. Tencent, the biggest component of Asia’s benchmark index, comes into its latest report on a wave of investor optimism.
Asian markets declined Tuesday, backtracking from Monday’s rally spurred by news that President Donald Trump had pushed back a deadline for raising tariffs on imports from China.