fxstreet.com 10 Feb, 2021 06:30 am

Asian stocks refresh record tops despite sluggish markets in India, New Zealand

Asian equities stay on the front-foot as US policymakers progress in discussing the much-awaited covid stimulus. Also backing the mood could be the po

China’s downbeat inflation favors the need for further monetary supply, BOJ policymaker hints easy money going forward.Japanese traders seem to weigh on comments from Bank of Japan (BOJ) monetary policy board member Seiji Nakamura suggesting prolonged easy money policies while Australia’s ASX 200 gain over half a percent to currently around 6,860 as Australian Westpac Consumer Sentiment data crossed -3.China’s CSI300 refreshed the highest levels in 13 years whereas Shanghai Composite rose to a five-year top as downbeat inflation data for January suggests Beijing needs further easy money to completely overcome the pandemic.Even so, some in the group, like India, Indonesia and New Zealand, mark lackluster moves amid mixed clues.

It should be noted that China’s suspension of New Zealand’s seafood, as per the South China Morning Post (SCMP), joins the Reserve Bank of New Zealand’s (RBNZ) cautious optimism to keep a tab on the NZX 50.Looking forward, global traders await the US inflation data and comments from Fed Chair Jerome Powell to defy the relation fears.

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