(OP)inions Asian stocks see support

March 29, 2022 

A rise in U.S. equities, a slump in crude oil and the prospect of more cease-fire talks between Russia and Ukraine looked set to provide some support for Asian stocks on Tuesday. 

Equity futures rose for Japan, Australia and Hong Kong, while U.S. contracts were steady, after megacaps and technology firms helped the S&P 500 index to climb for a third session. 

Oil extended a slide, taking West Texas Intermediate crude to about $104 a barrel, on concerns about demand due to Chinas mobility curbs to counter a Covid resurgence. 

Treasuries were mixed Monday, with the two-year yield jumping but longer maturity notes advancing. Inversions along the bond curve, where some short-term rates exceed longer tenor yields, may point to concerns about an economic downturn as the U.S. tightens monetary policy to quell high inflation. 

A dollar gauge pushed higher and the yen held losses against the greenback. There are questions now about whether Japan might try to talk upthe yen, which is around a six-year low against the greenback on the divergence between a hawkish Federal Reserve and still-dovish Japanese central bank. 

OnePro Special Analyst

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