Asian shares recover from low levels as bonds, China markets steady
Asian share markets recovered from a two-month low on Wednesday. Investors’ upbeat sentiment was mainly from a decline in bond yields, with Chinese shares also performing well after a wild upswing brought about by policy tightening worries.
MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.4%, recovering from its two-month low record seen the previous day. Japan’s benchmark index Nikkei barely moved, while futures for the S&P 500 declined 0.25% to erase initial earnings.
China’s CSI300 index recorded a 0.7% increase during its early trade. Chinese shares made an impressive recovery after they plunged to their sharpest levels yesterday. The decline could be attributed to the prospect of tighter policy as the country’s economy struggled to expand.