Japanese investors end six-week retreat from foreign long-term bonds
Finance ministry data showed 1.31 trillion yen in net purchases, while foreign investors also increased their holdings of Japanese debt.
Asian shares recover as traders increase bets on Fed rate rise
Japan and Taiwan gained about 2.5%, while strong US jobs data pushed expectations of a December interest-rate increase to nearly 80%.
Stocks across Asia moved higher on November 9, with MSCI’s Asia-Pacific benchmark excluding Japan up 0.8% following a 4.6% weekly loss. The gains came after concerns over chip demand and artificial intelligence profitability had triggered sharp selling in technology-heavy markets.
The Nikkei advanced 2.5% in Japan, while Taiwan’s main index gained about 2.5% following its largest weekly decline in two decades. South Korean equities edged up. Futures on the S&P 500 also rose slightly after US shares rebounded on Friday.
Attention is turning to earnings from CoreWeave, Applied Materials and Cisco Systems as investors assess AI spending and profitability. Capital.com senior financial market analyst Kyle Rodda said Democratic gains in the US midterm elections had increased regulatory risks, while earnings had been underwhelming.
US employers added 165,000 jobs in the latest monthly report, exceeding economists’ forecasts by more than twofold. Following the figures, CME FedWatch showed a nearly 80% probability of a December rate increase of at least 25 basis points. US consumer price data is due on Tuesday.
New York Fed President John Williams said the economy had remained resilient despite successive shocks, but inflation was excessive and needed to return to 2%. The dollar index traded at 102.2 following its biggest daily rise in five months.
Brent oil slipped to $97.49 a barrel after US President Donald Trump said fresh strikes on Iran were highly unlikely provided negotiations to end the conflict progressed. Bitcoin lost more than 2%, reaching $73,708, and ether declined about 5% to $2,223.