- Asian Stocks Rise, US Futures Fall Amid Fed Focus
- Benchmark share gauges climb in Australia, Japan, South Korean
Asian stocks rose while US equity futures edged lower at the start of a pivotal week for investors that will see interest rate decisions from central banks including the Federal Reserve.
Shares climbed in Japan, South Korea and Australia, while contracts for Hong Kong advanced earlier after stocks on Wall Street rallied Friday. The greenback made small advances against most major currencies, suggesting caution among trader
The yield on the 10-year Treasuries was little changed around 4% amid concern that inflation will delay any shift by policy makers to slow aggressive rate hikes. A core gauge of US inflation accelerated in September, bolstering the case for another jumbo 75-basis-points move. Yields fluctuated in Australia.
Still, Apple Inc.’s earnings report buoyed technology shares, helping the S&P 500 and the Nasdaq 100 notch their longest weekly rising streak since August. An index of Asian equities on Monday climbed for the fourth time in five days.
Brazil’s local assets are set to weaken on Monday after Luiz Inacio Lula da Silva won the presidential election. The extent of the market drop will depend on whether President Jair Bolsonaro will concede, as a contested election would likely trigger larger losses.
Meanwhile, wheat soared after Russia exited a key agreement to allow Ukrainian crop shipments.
Oil headed for the first monthly advance since May ahead of output cuts by the OPEC+ alliance, which may tighten the market further.