Global shares advance on upbeat bond yields, resources
Asian share markets recorded a cautious session on Monday. The series of increases came after investors’ sentiment was fueled by recovery hopes, with inflation heavily dragging bonds and supporting commodities. Meanwhile, an increase in bond yields made equity valuations more stretched in comparison.
MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.2% as Japan’s Nikkei salvaged 1.0%. South Korean shares and Chinese blue chips were seen subdued, tallying 0.4% and 1.2% losses respectively.
Futures for the S&P 500 and EUROSTOXX 50 made minimal earnings, while FTSE futures traded 0.6% lower. Bonds, on the other hand, were greatly hurt by the prospect of a brisk economic recovery as U.S. President Joe Biden’s fiscal stimulus package progresses.