· Stocks gain, U.S. debts under pressure after bumper jobs data
Global stock prices rose to a 1 1/2-month high on Monday after data showing a surge in U.S. employment while U.S. bonds came under pressure on worries the Federal Reserve may bump up interest rates sooner than it has indicated.
U.S. S&P500 futures traded 0.5% higher, maintaining their gains made during a truncated session on Friday though tech-heavy Nasdaq futures lagged behind, trading almost flat.
In Asia, Japan’s Nikkei rose 0.8% while MSCI’s broadest index of Asia-Pacific shares outside Japan was almost flat, with China closed for Tomb-Sweeping day and Australia on Easter Monday.
MSCI’s all-country world index was almost flat but stood near its highest level since late February and within sight of a record high set that month.
· Alibaba, Tencent are still China’s ‘benchmark’ techs — even as Beijing ramps up pressure, says investor
· India stocks drop around 2% as Covid cases surge in the country; major Asia-Pacific markets closed
Shares in India led losses in Asia-Pacific in Monday trade, as many major regional markets were closed for holidays.
The Nifty 50 and BSE Sensex both dropped about 2% in Monday afternoon trade as investors grapple with a recent surge in Covid-19 cases.
Reference: CNBC, Reuters
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