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Asia equities tick up, as investors look to the U.S.

Stock MarketsJul 26, 2021 10:40PM ET
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© Reuters. FILE PHOTO: A man works at the Tokyo Stock Exchange after market opens in Tokyo, Japan October 2, 2020. REUTERS/Kim Kyung-Hoon

By Alun John

HONG KONG (Reuters) - Asian equity markets rose cautiously Tuesday, after touching year to date lows the day before, with traders keeping at least half an eye on the United States where major companies report earnings and the Federal Reserve meets on policy this week.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.26% after touching its lowest level since mid-December on Monday, weighed down by big Chinese stocks.

Japan's Nikkei rose 0.58%.

Mainland Chinese and Hong Kong markets recovered a little from their lowest level this year on Monday, when investor worries over government regulations had battered stocks, especially in the education, property and tech sectors.

Chinese blue chips rose 0.15%, and the Hong Kong benchmark rose 0.31%, though real estate, healthcare, education stocks were still down.

Upcoming events across the Pacific also were on investors' minds.

"It's profits and the Fed. The next couple of days are going to be monumental as everyone tries to figure out how strong corporate fundamentals are at the moment and in what context that is happening in terms of the economic outlook and policy settings," said Kyle Rodda, market analyst at IG Markets

Alphabet (NASDAQ:GOOGL) Inc, Apple Inc (NASDAQ:AAPL) and Microsoft Corp (O:MSFT) are set to publish quarterly results late on Tuesday, with Amazon.com Inc (NASDAQ:AMZN)'s due later in the week.

In addition, the Federal Reserve will begin its two day meeting later on Tuesday, with investors set to parse a statement and press conference from Fed Chair Jerome Powell due late Wednesday.

They will be looking to see how the central bank will balance fast-rising prices with the complication of increased coronavirus infections.

All three major U.S. stock indexes eked out record closing highs for a second straight session on Monday, but S&P 500 futures dropped 0.14%.

The looming Fed meeting kept a dampener on major moves in other asset classes.

The dollar hovered a little below recent highs, with the euro and sterling gaining some ground, the latter helped by a decline in COVID-19 cases in the UK.

U.S. Treasury yields rose in early Asian trading on Tuesday, following a choppy Monday.

The yield on benchmark 10-year Treasury notes was 1.2829% compared with its U.S. close of 1.276%, while the two-year yield touched 0.2114% compared with a U.S. close of 0.196%.

Gold was slightly higher, with spot gold trading at $1797.2791 per ounce, while U.S. crude ticked up 0.1% to $71.98 a barrel. [GOL/]

Bitcoin dropped to below $37,000 from a Monday peak of $40,581 after Amazon.com offered a qualified denial of a weekend news report that said it was preparing to accept cryptocurrencies.

Asia equities tick up, as investors look to the U.S.
 

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Comments (8)
Fabio falec
falec Jul 27, 2021 2:11AM ET
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Rubbish article, meant to be on China, instead it's on everything (US stocks, gold,...). And, most importantly, the Chinese market is down also today
raymond djon
raymond djon Jul 27, 2021 1:26AM ET
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Nobody really cares about earnings. The market has gone up in a straight line for over a decade - aside from the COVID dip - because of currency devaluation...zero interest rates and printer goes burrr...that is it. Earnings do not matter when you are dropping the value of the USD 5-10% YoY. For perspective of the bubble, for the first time in US history, the average US household has over 40% of their assets stocks. Retail margin holdings are at historic highs, over $800 billion, and personal debt levels are at historic highs (in addition to historic high levels of corporate/govtt debt). Inflation levels of  USD have never been this high at these historically low interest rates, and government that has been unable to achieve a balanced budget for >20 years, with $30 trillion+ already in debt and threat of default in a few months. Over the past 90 years, average home price in the US has gone up 100x, and wages have only gone up 25x. USD has lost over 50% of its value since just 1990.
raymond djon
raymond djon Jul 27, 2021 1:26AM ET
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To put it another way, inflation has reached over 100% since 1990.  The USD has lost around 10% of its value just in the past 3 years, over 5%+ just in the past 12 months. There is $3.5 trillion of additional proposed spending by democrats, which works out to over $20,000 of spending per taxpayer. Adding this to the current national debt, this is over $220,000 of debt per every single taxpayer in the country, and over two decades of the country being unable to achieve a balanced budget with current monetary policy and a decade of near zero interest rates.
dav lo
dav lo Jul 27, 2021 1:21AM ET
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when HK tick? I only see -500 more each day. f crab
Dee Morris
Dee Morris Jul 27, 2021 12:52AM ET
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Asia is tanking again. These ridiculous article are written by "paid-off writers" who have no conscious.
Sab Baby
SabSabBaby Jul 26, 2021 11:40PM ET
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You are located in Hong Kong.  Hong Kong market has been tanking for days.  What kind of reporting are you doing?  Well done, Reuters!
Jokers R Us
Jokers R Us Jul 26, 2021 11:18PM ET
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title makes no sense
Elvis Durant
Elvis Durant Jul 26, 2021 10:42PM ET
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these rookies can't even fool a rookie with their wording.......😒🤦🏽🤣🤣🤣🤣
Kevin Avila
Kevin Avila Jul 26, 2021 10:17PM ET
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As US Index futures tick down… lol
 
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