China shares rise on return from holiday, profit-taking hits other markets
Skip to main content
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Splash
  • Features
  • Videos
  • Long Read
  • Games
  • Epaper
  • More
    • COVID-19
    • Bangladesh
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Subscribe
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
The Business Standard
SUNDAY, MAY 22, 2022
SUNDAY, MAY 22, 2022
  • Home
  • Economy
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Splash
  • Features
  • Videos
  • Long Read
  • Games
  • Epaper
  • More
    • COVID-19
    • Bangladesh
    • Infograph
    • Interviews
    • Offbeat
    • Thoughts
    • Podcast
    • Quiz
    • Tech
    • Subscribe
    • Archive
    • Trial By Trivia
    • Magazine
    • Supplement
  • বাংলা
China shares rise on return from holiday, profit-taking hits other markets

Global Economy

Reuters
18 February, 2021, 09:40 am
Last modified: 18 February, 2021, 09:53 am

Related News

  • Grameenphone: A listed company leading by example
  • Wall Street ends mixed after punishing week
  • Wall Street ends mixed after punishing week
  • US growth seen outpacing China’s for first time since 1976
  • World shares sink after inflation driven retreat on Wall St

China shares rise on return from holiday, profit-taking hits other markets

Yields on two-year Treasuries hit a record low and the 10-year yield extended a pullback from a one-year high as a bond market sell-off started to fade

Reuters
18 February, 2021, 09:40 am
Last modified: 18 February, 2021, 09:53 am
A woman holding an umbrella rides a shared bicycle past an image of the Chinese flag after the lockdown was lifted in Wuhan, the capital of Hubei province and China's epicentre of the novel coronavirus disease (Covid-19) outbreak, April 10, 2020. REUTERS/Aly Song
A woman holding an umbrella rides a shared bicycle past an image of the Chinese flag after the lockdown was lifted in Wuhan, the capital of Hubei province and China's epicentre of the novel coronavirus disease (Covid-19) outbreak, April 10, 2020. REUTERS/Aly Song

Chinese shares rose on Thursday during the first trading session after the week-long Lunar New Year holiday amid renewed optimism for an acceleration in global growth, but other Asian markets were hit by profit-taking.

MSCI's broadest index of Asia-Pacific shares outside Japan fell 0.15% but was still close to an all-time high. Shares in China rose 0.77%. Australian stocks erased gains to trade 0.05% lower, while Japan's Nikkei was unchanged.

E-mini futures for the S&P 500 fell 0.04%.

Yields on two-year Treasuries hit a record low and the 10-year yield extended a pullback from a one-year high as a bond market sell-off started to fade.

Strong US retail sales, new signs the Federal Reserve will maintain its accommodative stance, and an ongoing push for further US stimulus have bolstered economic optimism, but some analysts remain cautious because new strains of the coronavirus continue to emerge.

"With an even larger stimulus package likely to be passed by Congress before the end of March, the US economic recovery could gain more momentum in 2021," wrote Commonwealth Bank of Australia currency analyst Carol Kong.

"Despite the recent positive vaccine developments, the global economic outlook remains uncertain partly because of the spreading virus variants."

On Wall Street, technology stocks fell, driving down the Nasdaq while other companies rose on broader economic optimism.

The Dow Jones Industrial Average rose 0.29%, while the S&P 500 lost 0.03% and the Nasdaq Composite dropped 0.58%.

The MSCI's global stock index fell 0.04% but was still near a record high.

While investors eyed inflation, minutes from the January Fed meeting showed policymakers willing to push further accommodation to boost the pandemic-scarred US economy.

Hopes for a stronger US economy supported the greenback. The dollar index, a measure of the currency's strength against six other major currencies, was steady, holding onto a 0.25% gain from the previous session.

The risk-on appetite was apparent in bitcoin, which continued its upward march to exceed $52,000 amid signs it may be gaining more mainstream acceptance. Cryptocurrency ethereum also rose more than 2% to new record high of $1,900.

The two-year US Treasury yield briefly touched a record low of 0.1049%. Benchmark 10-year yields eased slightly to 1.2669%, pulling away from the highest level since February 27, 2020 as some investors judged that recent selling of fixed income had gone too far.

An ongoing deep freeze in Texas continued to drive up oil prices, as the unusually cold weather hampered output at the largest US crude producing state. Brent crude gained 1.35% to $65.22 a barrel, while US West Texas Intermediate (WTI) crude rose 1.29% to $61.93 a barrel, both reaching levels not seen since January last year.

Spot gold edged up 0.14% to $1,778.72 per ounce. US gold futures rose 0.28% to $1,777.60 per ounce.

Top News / World+Biz

China Economy / Chinese Economy / Asian stocks / Asian shares / Stock Market / Global Stock Market / Wall Street / Wall St / Wall St. / share market / Share markets

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Project delays: The Sinohydro style 
    Project delays: The Sinohydro style 
  • Photo: TBS
    37,000 BO account holders sell all shares in 11 days
  • Photo: Reuters
    Monkeypox: Govt puts ports on alert 

MOST VIEWED

  • HSBC CEO Noel Quinn attends the UN Climate Change Conference (COP26) in Glasgow, Scotland, Britain, November 3, 2021. REUTERS/Yves Herman/File Photo
    HSBC banker's remarks on climate risk inconsistent with strategy, CEO says
  • A man wears a protective mask as he walks on Wall Street during the coronavirus outbreak in New York City, New York, U.S., March 13, 2020. REUTERS/Lucas Jackson/Files
    Wall Street ends mixed after punishing week
  • A trader in London waits for European stock markets to open early on June 24, 2016, after Britain voted to leave the European Union. REUTERS/Russell Boyce
    Global stocks rebound despite unease over economy; dollar gains
  • Cracks in US economy start to show as recession warnings mount
    Cracks in US economy start to show as recession warnings mount
  • Prices of household items 20% costlier in UK: Study
    Prices of household items 20% costlier in UK: Study
  • Pakistan bans imports of all non-essential luxury goods - minister
    Pakistan bans imports of all non-essential luxury goods - minister

Related News

  • Grameenphone: A listed company leading by example
  • Wall Street ends mixed after punishing week
  • Wall Street ends mixed after punishing week
  • US growth seen outpacing China’s for first time since 1976
  • World shares sink after inflation driven retreat on Wall St

Features

The Buffalo shooter targeted Black people, linking mass migration with environmental degradation and other eco-fascist ideas. Photo: Reuters

Eco-fascism: The greenwashing of the far right

18h | Panorama
Green-backed Heron on a tilting stalk. Photo: Enam Ul Haque

Green-backed Heron: Nothing but a prayer to catch a fish  

20h | Panorama
Illustration: TBS

‘High logistics cost weakens Bangladesh’s competitiveness’

22h | Panorama
Every morning is a new beginning for all

Seashore

23h | In Focus

More Videos from TBS

Wheat prices double in India

Wheat prices double in India

12h | Videos
Is Washington-Moscow agreement possible?

Is Washington-Moscow agreement possible?

12h | Videos
Pigeon exhibition for the first time in Gazipur

Pigeon exhibition for the first time in Gazipur

17h | Videos
Photo: TBS

US Congress to hold first public UFO panel

19h | Videos

Most Read

1
Tk100 for bike, Tk2,400 for bus to cross Padma Bridge
Bangladesh

Tk100 for bike, Tk2,400 for bus to cross Padma Bridge

2
A packet of US five-dollar bills is inspected at the Bureau of Engraving and Printing in Washington March 26, 2015. REUTERS/Gary Cameron
Banking

Dollar hits Tk100 mark in open market

3
The story of Bangladesh becoming a major bicycle exporter
Industry

The story of Bangladesh becoming a major bicycle exporter

4
PK Halder: How a scamster rose from humble beginnings to a Tk11,000cr empire
Crime

PK Halder: How a scamster rose from humble beginnings to a Tk11,000cr empire

5
BSEC launches probe against Abul Khayer Hero and allies
Stocks

BSEC launches probe against Abul Khayer Hero and allies

6
The reception is a volumetric box-shaped room that has two glass walls on both the front and back ends and the other two walls are adorned with interior plants, wood and aluminium screens. Photo: Noor-A-Alam
Habitat

The United House: Living and working inside nature

The Business Standard
Top
  • Home
  • Entertainment
  • Sports
  • About Us
  • Bangladesh
  • International
  • Privacy Policy
  • Comment Policy
  • Contact Us
  • Economy
  • Sitemap
  • RSS

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - oped.tbs@gmail.com

For advertisement- sales@tbsnews.net

Copyright © 2022 THE BUSINESS STANDARD All rights reserved. Technical Partner: RSI Lab