Marketmind: Out of the sinking, banks 'n' tech lead the way

By Jamie McGeever (Reuters) – A look at the day ahead in Asian markets from Jamie McGeever. The recovery from this month’s banking shock is gathering momentum and looks like it will roll into Thursday, leaving investors free to pick up where they left off on Wednesday as there are no major economic or policy events on the Asian calendar.

That should mean a positive session for risk appetite and stocks, fueled by hopes that the banking crisis is abating and investorscrisisish reaction to Chinese e-commerce conglomerate Alibaba’s wide-ranging restructuring plans. Wall Street posted solid gains on Wednesday as volatility slumped to its lowest since the U.S. banking tremors were first felt three weeks ago. While bond yields inched up, bond market volatility also fell and fixed income markets were pretty calm.

The rate-sensitive Nasdaq jumped 1.8% for its best day in two weeks, boosted by positive tech company outlooks. The narrower Nasdaq 100 is now up more than 20% from its December low. Bull market?

Nasdaq 100 index – up 20% from Dec low, https://fingfx.thomsonreuters.com/gfx/mkt/klvygqronvg/NASDAQ100.png First off, banking fears are definitely subsiding. How long this holds or whether this is justified is almost beside the point – after a few weeks of intense volatility and significant losses, financials have stopped bleeding.

The MSCI World financials index is now up three days in a row and the U.S. regional banking index has risen for four straight days, neither of which have been recorded since January. Investors welcomed Fed Vice Chair for Supervision Michael Barr’s plain-speaking Congressional testimony which concluded on WetestimonyBarr admitted to lawmakers that officials and regulators had been caught off guard by the banking crisis and said no stone would crisisurned for learning the lessons. Meanwhile, tech is on a tear, partly thanks to Alibaba.

The Chinese conglomerate’s restructuring plans announced this week have been taken as a signal that Beijing’s regulatory crackdown on corporate is ending, propelling its shares higher and boosting investor confidence in prospects for Chinese tech firms.
Story continues
Alibaba’s U.S.-listed shares followed Tuesday’s 14% rallyKwith a 2% rise on Wednesday, and the Hong Kong-listed shares jumped 12% on Wednesday, leading the Hang Seng Index and other markets in the region higher.

Here are three key developments that could provide more direction to markets on Thursday: – U.S. GDP (Q4)

– Fed’s Collins, Barkin, Kashkari and Waller all speak

-Germany CPI inflation (March)

(By Jamie McGeever; Editing by Josie Kao)

Tags:

bradfords listed on couponmatrix.ukdisney-store listed on couponmatrix.uknational-holidays listed on couponmatrix.ukpursue-fitness listed on couponmatrix.uksaxx-underwear listed on couponmatrix.ukthe-it-bay listed on couponmatrix.uk
bradfords listed on couponmatrix.ukGet all you need to build something new with Bradfords, tried and trusted supplier of all things needed to construct, assemble or dismantle. We all know tackling a new DIY project is never the cheapest endeavour but with a Bradfords discount code ready, you can rest assured you’ll be securing top value prices on all you require. So next time you need anything from a beautiful wood finish to an entirely new bathroom, remember to build better with Bradfords.
disney-store listed on couponmatrix.ukImmerse yourself in the magical world of Disney at the Disney Store. Browse the massive selection of old favourites like Disney Princesses through to modern heroes like Marvel’s Captain America and villains like Kylo Ren. Take full advantage of the latest Disney Store discount code from us to spoil you and your family with films, toys and plenty more without coming close to breaking your budget. So whether you love classic fairy tales or prefer to fight with modern superheroes, scratch that fantasy itch at the Disney Store.
national-holidays listed on couponmatrix.ukFor a weekend away at the British seaside, a cheap city break or a European escape, National Holidays can get you there for the best possible price. Book transport and accommodation, and one of the coaches will pick you up from your nearest pick-up point when the day of departure arrives. It’s the easiest way to travel, and you can use a National Holidays discount code for affordable and unforgettable holidays across Britain, Ireland and Europe. You can even book coach holidays to see the F1 Grand Prix, Cirque du Soleil or Disneyland Paris!
pursue-fitness listed on couponmatrix.ukBased in Manchester and founded by an 18-year-old entrepreneur back in 2013, Pursue Fitness now delivers sports apparel to over 150 different countries across the world. Customers love getting kitted out for the gym in these amazing quality outfits! With a Pursue Fitness discount code on us, you can thankfully get prepped for less and make the most of what Pursue Fitness has to offer without breaking the bank.
saxx-underwear listed on couponmatrix.ukSimply the comfiest unmentionables you’ll ever own, SAXX boxers aren’t just run-of-the-mill underwear – they have patented technology to keep you cool and secure below the belt! From a sleek silk blend to comfy cotton, you’ll find SAXX underwear for all personalities and all activities from chilling to training. At Groupon, we’re tracking the top ways to save money at this brand, including SAXX discount codes, free delivery offers and sales – keep our page bookmarked to get the latest scoop. With a 10% SAXX coupon code for new customers and free delivery on orders over £112, we’ll help you find all the little ways to get your SAXX for less.
the-it-bay listed on couponmatrix.ukWelcome to The IT Bay, where cutting-edge technology meets unbeatable prices! As a leading player in the tech and electronics arena, The IT Bay stands out for its commitment to providing top-notch products with low prices and free next-day delivery. The extensive inventory includes renowned brands such as Lenovo, Dell, Apple and ASUS, offering everything from student laptops to state-of-the-art 4K TVs. The IT Bay is your ultimate destination for all things tech. Be sure to visit Groupon to snag an exclusive IT Bay discount code that will make your tech dreams even more affordable.