In a climate of persistent global economic uncertainty, financial markets are showing resilience, without masking growing caution. This Thursday, Asian stock markets are posting positive but measured performances, as investors feverishly await the European Central Bank’s monetary policy decision, at a time when Donald Trump’s trade policy continues to cause turmoil.
With all eyes on Frankfurt, the markets are trying to digest a stream of contrasting economic data…
Uneven recovery on Asian markets
Asian indices ended their last session on a positive note overall : the MSCI index of Asia-Pacific equities excluding Japan rose by 0.4%, buoyed by the Hong Kong and South Korean markets. The Hang Seng soared 0.9% to an eleven-month high, fueled by political optimism surrounding South Korea’s new president, Lee Jae-Myung, and buoyant technology stocks.
Meanwhile, Japan’s Nikkei was down 0.5%, penalized by a stable yen and profit-taking. Japanese investors remain cautious, awaiting more clarity on US monetary policy and the evolution of trade relations between the major powers. The relative calm observed on Asian forex markets reflects the general wait-and-see attitude of investors, who are reluctant to take a position ahead of forthcoming decisions, particularly those of the ECB.
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