China pushes Asia. Bitcoin recovers after the crash

China pushes Asia. Bitcoin recovers after the crash

China pushes Asia. Bitcoin recovers after the crash

Markets today: the Asian equities oscillate close to the highs of the past few weeks.

To push earnings there are expectations that the monetary policy will remain accommodating around the world as the vaccine launch helps alleviate fears of another dangerous wave of infections.

In Asia, and the China leading the rise, while on the cryptocurrency front Bitcoin recovers the huge losses of the weekend.

What happens in the markets today?

Markets: what happens today? Positive sentiment

The Chinese stocks outperformed amid easing health concerns from state-owned China Huarong Asset Management Co., a bad debt manager.

India slipped to a two-month low after daily cases of the virus hit a record high.

Nasdaq 100 contracts got a boost as Treasury yields fell. European futures rose and S&P 500 contracts remained stable after the US indicator hit a fourth week of gains.

Specifically, the broader MSCI index of Asia Pacific equities outside of Japan reached 695.59, a considerable distance from Friday’s high of 696.48, a level not seen since April 7.

The index jumped 1.2% last week and rose 5% this year, on track for its third consecutive annual gain.

Risk assets benefit, according to experts, from the security provided by the accommodative monetary policy of central banks.

In detail, in China the Shanghai index gains1,25% at 8.15 am and Shenzen on 2,6%. In Japan, the Nikkei it is more unstable, with fluctuations. At the same time it loses 0.06%.

The last Tokyo macroeconomic data, today, showed a jump in exports in March, with a + 16.1% and a trade surplus worth noting 663.72 billion yen. The decrease, however, was the industrial production, which recorded a -1.3% monthly.

Bitcoin in recovery, dollar on the lows

Bitcoin, the largest cryptocurrency in the world, recouped most of its losses after plummeting until 14% Sunday.

Speculations that the US Treasury might try to crack down on money laundering activity within digital assets had favored the thud.

Additionally, data website CoinMarketCap cited a blackout in China’s Xinjiang region, which reportedly powers many bitcoin mining businesses, for the selloff.

The withdrawal of the Bitcoin also comes after the Turkish central bank has the use of cryptocurrencies is prohibited for purchases.

In currencies, the US dollar it has hovered close to the four-week low as investors increasingly support the idea that the Federal Reserve will maintain an accommodative policy stance for the long term.

The dollar index that measures the greenback against a basket of six currencies remained unchanged at 91.612, not far from its low since March 18 hit Friday.

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