Asian Shares Rebound Following Dovish Fed Comments
13 Settembre 2016 - 5:50AM
Dow Jones News
Asian shares rebounded Tuesday as fears of a rate increase by
the U.S. Federal Reserve that had built up in recent days eased
following dovish comments overnight from Fed governor Lael
Brainard.
She said that caution by the central bank concerning a rate rise
"has served us well in recent months, helping to support continued
gains in employment and progress on inflation."
Comments from two other Fed officials also offered hope to
markets that the central bank may hold off raising interest rates
until at least December.
After their biggest declines since late June on Monday,
Australia's S&P/ASX 200 rose 1% and Korea's Kospi gained 0.9%.
The Nikkei Stock Average advanced 0.5%.
Overnight, U.S. stocks reversed more than half of their slide on
Friday and logged their biggest jump in two months.
Castor Pang, head of research at Core Pacific Yamaichi
International, said that the dovish comments from Ms. Brainard
helped calm nerves, but "will not help the market recover all the
losses, though."
In South Korea, customs data Tuesday showed there was a surge in
electronics components and car parts entering the country from
Korean-run plants in Vietnam and China. August's trade surplus
narrowed more than anticipated, as imports were significantly
revised up from earlier estimates.
Samsung Electronics Co. share price rebounded 4.5% after
recording its worst day in four years on Monday, and Hanjin
Shipping Co. rose 1.2% after the first of its stranded U.S.-bound
vessels began off-loading containers in California yesterday.
Elsewhere in Asia, shares of Japanese chip maker Renesas
Electronics Corp. initially rose following an agreement to buy U.S.
peer Intersil Corp. for $3.2 billion before turning modestly lower.
Some market participants raised concerns about the hefty price of
the deal and the Japanese company's ability to establish itself as
the industry leader in fields such as self-driving cars.
Kosaku Narioka and Kwanwoo Jun contributed to this article.
Write to Kenan Machado at
kenan.machado@wsj.com<mailto:kenan.machado@wsj.com>
Write to Kenan Machado at kenan.machado@wsj.com
(END) Dow Jones Newswires
September 12, 2016 23:35 ET (03:35 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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