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GLOBAL MARKETS-Asian shares near 1-1/2 week highs, Bitcoin recoups losses

Published 19/04/2021, 01:44
© Reuters.
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* Asian stock markets : https://tmsnrt.rs/2zpUAr4
* Australia, NZ, South Korea share markets firm, Nikkei off
0.4%
* Bitcoin fell 14% on Sunday, recoups losses in early Monday
trading
* Currencies tread water, U.S. dollar near 4-week lows

By Swati Pandey
SYDNEY, April 19 (Reuters) - Asian shares hovered near 1-1/2
week highs on Monday helped by expectations monetary policy will
remain accommodative the world over, while COVID-19 vaccine
rollouts help ease fears of another dangerous wave of
coronavirus infections.
MSCI's broadest index of Asia-Pacific shares outside Japan
.MIAPJ0000PUS was last at 695.59, within striking distance of
Friday's high of 696.48 - a level not seen since Apr. 7.
The index jumped 1.2% last week and is up 5% so far this
year, on track for its third straight yearly gain.
"The extremely supportive monetary and fiscal policy setting
continues to provide a fertile environment for risk assets,"
said Rodrigo Catril, senior forex strategist at National
Australia Bank.
Australian shares .AXJO were 0.25% higher while New
Zealand's benchmark index .NZ50 and South Korea's KOSPI
.KS11 added 0.4% each. Japan's Nikkei .N225 eased 0.4%.
On Friday, the S&P 500 .SPX gained 0.4% to close at a new
record high while clocking its sixth straight weekly gain. The
Dow .DJI finished 0.5%, also at a record high while the Nasdaq
.IXIC climbed 0.1%.
E-mini futures for the S&P 500 ESc1 were down 0.3% in
early Asian trading.
This week is off to a quiet start with no major data
releases slated on Monday.
Investors will keep their eyes peeled for earnings from IBM
IBM.N and Coca-Cola COKE.O later in the day. Netflix
NFLX.O reports on Tuesday while later in the week American
Airlines AAL.O and Southwest LUV.N will be the first major
post-COVID cyclicals to post results.
The European Central Bank (ECB) meets on Thursday with no
changes to rates or guidance expected while preliminary data on
factory activity around the globe for April is due on Friday.

Elsewhere, Bitcoin BTC=BTSP , the world's biggest
cryptocurrency, recouped most of its losses after plunging as
much as 14% on Sunday following speculation the U.S. Treasury
may be looking at cracking down on money-laundering activity
within digital assets, NAB's Catril said.
Data website CoinMarketCap cited a blackout in China's
Xinjiang region, which reportedly powers a lot of bitcoin
mining, for the selloff. The retreat in Bitcoin also comes after Turkey's central
bank banned the use of cryptocurrencies for purchases on Friday.

Bitcoin is up more than 90% year to date, driven by its
mainstream acceptance as an investment and a means of payment,
accompanied by the rush of retail cash into stocks,
exchange-traded funds and other risky assets.
In currencies, the U.S. dollar =USD loitered near a
four-week low against a basket of currencies as investors
increasingly bought into the Federal Reserve's insistence it
would keep an accommodative policy stance for a while longer.
The dollar index measuring the greenback against a basket of
six currencies was unchanged at 91.612, not far from its lowest
since March 18 touched on Friday.
Against the Japanese yen JPY= , the greenback was off a
touch at 108.72. The euro was a tad lower EUR= at $1.1966
while the British pound GBP= eased 0.07% to $1.3820. FRX/
The risk-sensitive Aussie dollar AUD=D3 slipped for a
second straight day to be down 0.2% at $0.7715.
In commodities, oil prices were down with the Brent LCOc1
slipping 34 cents to $66.43 a barrel and U.S. crude CLc1
falling 29 cents to $62.84.
Gold was up 0.2% at $1,779.3 an ounce XAU= .

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Asia stock markets https://tmsnrt.rs/2zpUAr4
Asia-Pacific valuations https://tmsnrt.rs/2Dr2BQA
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(Editing by Michael Perry)

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