Asian Markets Surge Amid Global Financial Jitters

Asian stock markets experienced gains, bolstered by Wall Street's record highs, amidst fluctuating currency values and anticipation over US interest rate decisions. In China, strong manufacturing data further fueled stock positivity, despite geopolitical tensions and concerns about global fiscal policies affecting market stability.


Devdiscourse News Desk | Updated: 02-12-2024 09:23 IST | Created: 02-12-2024 08:48 IST
Asian Markets Surge Amid Global Financial Jitters
Europe's main stocks index Image Credit:

Asian markets saw an uptick on Monday, inspired by record-closing sessions on Wall Street, as investors kept a keen eye on U.S. interest rates. Meanwhile, the dollar showed resilience against the yen and the British pound after hitting multiweek lows, highlighting a pivotal period for global economic outlooks.

Buoying Chinese shares was robust performance in the manufacturing sector, as indicated by an encouraging private survey that corroborated earlier official reports. This economic strength, coupled with U.S. President Donald Trump's firm stance against BRICS nations seeking alternatives to the dollar, underscored market movement.

With the euro under pressure due to potential political upheaval in France, and the Federal Reserve's policy decisions looming large, analysts predicted continued market volatility. All eyes remain on upcoming U.S. fiscal policies, central bank actions, and global trade threats impacting investor sentiment.

(With inputs from agencies.)

Give Feedback