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:

aa-breakdown-cover listed on couponmatrix.ukancestry-uk listed on couponmatrix.ukax-paris listed on couponmatrix.ukcraft-stash listed on couponmatrix.uknaio-nails listed on couponmatrix.uktom-hixson listed on couponmatrix.uk
aa-breakdown-cover listed on couponmatrix.ukPlay it safe when it comes to your vehicle and book world-class breakdown cover with AA, the UK’s largest breakdown provider. Whether you have a big road trip planned or want peace of mind on your daily commute, AA Breakdown Cover will cover your back and help keep your plans on track. Check out our top collection of AA Breakdown Cover deals before you choose the best plan for your needs. We've brought together all the best ways to save, including discounts, limited-time offers and exclusive AA benefits.
ancestry-uk listed on couponmatrix.ukExplore your family line and delve into the stories of the past with Ancestry, the UK’s favourite family history website. Use an Ancestry discount code from us to cut the cost of membership and you could access an extensive collection of birth, marriage, death and military records as well as censuses, passenger lists and more for a very affordable price. You might even want to take the Ancestry DNA test to trace your heritage - who knows what you might discover?
ax-paris listed on couponmatrix.ukFor the latest celebrity styles at your fingertips, AX Paris is the place to be! Discover the trendiest outfits as worn by the hottest fashion influencers and refresh your wardrobe with this season’s most papped looks for less. Add an exclusive AX Paris discount code to your order and liven up your everyday wardrobe for a fraction of the price. Polish your look with the most gorgeous footwear and accessories and make every outfit Instagram worthy.
craft-stash listed on couponmatrix.ukCraft Stash is an online retailer that specializes in selling high-quality craft supplies. They offer a wide range of products, from paper and fabric to tools and accessories, all at great prices. To make sure you get the best deal on your purchase, be sure to use a Craft Stash discount code. With these, you can enjoy even more savings on top of their already low prices. So whether you're a seasoned crafter or just starting out, Craft Stash is the perfect place to stock up on all your supplies. At Groupon, we know that saving money is important to our customers. That's why we work hard to find the best Craft Stash discount codes and vouchers. We'll scour the internet for the latest deals, so you can be sure you're getting the best possible price on your purchase. So what are you waiting for? Take advantage of our latest Craft Stash discount codes and offers today! If you're looking for a great deal on high-quality craft supplies, be sure to check out Craft Stash. They offer a wide range of products, from paper and fabric to tools and accessories, all at great prices. To get the best possible deal, use a Craft Stash voucher. So whether you're a seasoned crafter or just starting out, Craft Stash is the perfect place to stock up on all your supplies.
naio-nails listed on couponmatrix.ukHey ladies, when you want to look your finest, let your hands be handled by Naio Nails – the premium supplier of salon-quality nail products for beauticians and enthusiasts alike. With the help of a Naio Nails discount codes you can expect astonishing prices across a range of acrylic paint, fake nails, gel and accessories that will leave your stealing the show. So why not try out a new look for your fingers today and see why so many need Naio now on their nails.
tom-hixson listed on couponmatrix.ukCalling all carnivores, Tom Hixson and its worldwide network of premier butchers are here to serve you! Supplying only the finest cuts of meats you know and love – be it beef, lamb, poultry or plenty else besides – rest assured you’re saving on some seriously good food with the latest Tom Hixson discount code to hand. Whether you’re holding a dinner party for close friends or getting the relatives together for some barbecued brisket, make your meat unmatched with a little help from Tom Hixson.