Hong Kong (Benchmark News) – Asian Stock Markets opened higher on Tuesday (6/12/2016), supported the reinforcement of Wall Street as the market mendiskon potential impact of referendum, Italy.
Meanwhile the yield (yield) U.S. State increased, due to the strong economic data suggests the possibility of a rise in interest rates next week.
Asia-Pacific stocks index, MSCI, outside Japan, up 0.4 percent in early trading with market Antiopodean led the gains. Korea rising 1.0 percent in opening trade.
Wall Street rose on Monday, with the Dow Jones index set new record highs, after the service sector data shows further strengthening in the domestic economy.
Service sector activity reached a high of one-year in November, due to a surge in the production of increasing recruitment, immediately after the employment report on Friday (2/12) shows strong increase in jobs last month.
The data pushed the yield short-term U.S. bonds higher bond yields stable two years near level 1.13 per cent, not far from the highest six-year 1.17 percent tested at the end of November as the market had expected the likely increase in interest rates by the US Federal Reserve next week.
Traders estimate that 93 percent likelihood the Fed will raise interest rates of a quarter point to 0.50-0.75 percent next week, CME Group FedWatch shows.
Meanwhile, oil prices fell, with crude oil down more than one U.S. cent at 51.26 u.s. dollars per barrel as investors assessed 16 percent rally since the agreement of the Organization of petroleum exporting countries (OPEC) last Wednesday (30/11) to curb the production of increasingly stale.
However, stocks higher and bond yields a stronger short-term projected into a background that is more optimistic for risk appetite than Monday, when Asian markets plummeted as investors worried the euro zone may be headed for a new crisis after the referendum, Italy.
It lifted the sentiment that suppress the price of assets relative “safe haven” like gold and the yen Japan.
Gold in the spot market was down as much as 1.6 per cent to the lowest level since early February in 1,157 u.s. dollars per ounce, before rising slightly again….(Red)