Asian Shares Gain, Led by Energy Companies on Higher Oil Pricesby and
Japanese shares rebounded as yen’s week-long rally paused
Chinese stocks gained on speculation of state efforts
Asian stocks gained, led by a surge in energy companies after oil climbed above $52 per barrel. Japanese shares rebounded as investors picked up depressed shares.
The MSCI AC Asia Pacific Index rose 0.3 percent as of 4 p.m. Hong Kong time. Chinese stocks gained amid speculation of state efforts to ensure market stability during President Xi Jinping’s appearance at the World Economic Forum in Davos.
Politics and policies uncertainties continued to weigh on market sentiment. Safe haven assets like the yen and gold today paused a week-long rally that was boosted by Trump’s comments on the dollar and U.K. Prime Minister Theresa May’s plans to leave the European Union.
“Traders and investors may tend to stay away from the stock market until this Friday when Donald Trump gives his first speech,” said Margaret Yang, an analyst at CMC Markets Singapore. “Keywords that the market is looking forward to, are fiscal stimulus, tax cuts and financial deleveraging. If he really mention these plans, I think the market will have a good reason to rally. ”