Asian shares advance on tech recovery, euro relies on ECB
Thursday marked Asian stock markets’ recovery from their longest decline since February. Asian shares tracked Wall Street’s upbeat performance, but currencies, commodities, and bond markets remained subdued, underscoring investors’ dampened sentiment.
MSCI’s broadest index of Asia-Pacific shares outside Japan earned half a percent, recovering from its one-month low recorded on Wednesday.
Japan’s benchmark index Nikkei recorded a 0.5% gain, while Shanghai and Hong Kong markets started higher. However, oil prices were seen suffering from worries about soft demand, an indicator of weaker global expansion.
In Asia, futures for the S&P and the Nasdaq shed 0.4%. An overnight rally seen in riskier currencies was muted as investors anticipate the European Central Bank’s meeting on Thursday.