Shares in Asia Soar before Yellen’s Comments
The economic opinion of the Federal Reserve affects the global stock market in new ways. On Tuesday trading, the Asian shares continued to gain as the market awaited comments from Janet Yeller, the Fed Chair. The dollar also gained to reach a four-month high against Yen. The comments from Yellen will indicate the approach of the Fed and it will directly represent the tightening of the monetary policy of the USA.
Eurostoxx 50 index and DAX index in Europe both gained 0.3% and the FTSE index also gained 0.2%. The Asia-Pacific shares also gained 0.8% as a result of the increase in the global stock market. The MSCI broadcast also increased significantly. The Wall Street sentiment was positive throughout the trading session. Investors showed a concern for the Asian tech shares as the stock market was bright during the day.
The Nikkei stock index was setback by 0.6% due to the weaker yen. On the other hand, the Australian shares which reflect the stock market position of Japan ended up gaining slightly overcoming the losses in the previous sessions.
The Asian political situation is comparatively calm and the only disturbance is the worries about North Korea. Investors are relieved that no major geopolitical events could affect the market in the short term. The dollar has reached more than 114 against Japanese Yen and this has helped the Japanese shares as well. CSI300 index of China also gained 0.2%.