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:

big-furniture-warehouse listed on couponmatrix.ukliverpool-john-lennon-airport listed on couponmatrix.ukscan listed on couponmatrix.uksimply-swim listed on couponmatrix.uksong-galaxy listed on couponmatrix.ukthe-jewel-hut listed on couponmatrix.uk
big-furniture-warehouse listed on couponmatrix.ukBig Furniture Warehouse brings all of your furnishing needs under one roof. Discover high-quality furniture and homewares for less—the team of trained buyers source the best products (and the best deals!) from all over the world, to bring you a great range at affordable prices. Make the most of a Big Furniture Warehouse discount code to double up on the discounts when you upgrade your space.
liverpool-john-lennon-airport listed on couponmatrix.ukWith a namesake that's as recognisable as the accent, Liverpool John Lennon is your first and final port of call for northerners looking to fly. Whether you’re heading on a magical mystery tour or you’re just a day tripper – if you’ve got a ticket to ride there’s no better place to park when flying out of Liverpool. With a choice of drop off locations, long and short-term parking options, all you'll need is a Liverpool airport parking discount code before you’ve found the perfect parking option for you and your wallet.
scan listed on couponmatrix.ukIt doesn’t matter if you’re a computer whizz or a newcomer to the keyboard, Scan can help you find the hardware and accessories you need to breeze the digital landscape. Next time you fancy upgrading your PC or shelling out for a new headset or microphone, grab a Scan discount code from Groupon and pay less for premium hardware. So whenever you’re next looking for computing essentials – whether it’s for work, leisure or a little bit of both – put your trust in Scan.
simply-swim listed on couponmatrix.ukWhether you’re looking to dip your toes in the water for the very first time or want a state-of-the-art suit to help you zip through the water at unbeatable speeds, Simply Swim have got everything you could possibly want. Water babies of all ages are catered for and the Simply Swim discount code ensures that you can shop in complete confidence rather than feel as though you’re jumping in at the deep end.
song-galaxy listed on couponmatrix.ukIf you're a performing artist looking for some musical support, take a peek at our Song Galaxy discount codes on Groupon and find a host of backing tracks and software tools at reduced rates. Song Galaxy features a constellation of MIDI files, audio files, multi tracks and re-arranger files to help you create a chart topper. You can also check out their array of producing software, with free demos available. Song Galaxy boasts a network of specially-selected, experienced and highly qualified singers and musicians from around the world. Their combined experience in studio session work, live performance and teaching music is reflected in the quality of their tracks. The company has a universe of over 60,000 MIDI files, backing tracks and high quality rearrange files. The website boasts an online forum letting users share support, ideas and advice about music software, and their catalogues can be downloaded as a spreadsheet to browse offline. Booking some studio time for a recording session and need a backing track? Or starting out as a bedroom producer and hoping to craft a hit? Check out Groupon's Song Galaxy promo codes and you'll find great rates on a host of music files and software to suit your style, from pop and rock to soul and electro.
the-jewel-hut listed on couponmatrix.ukWhen it comes to shopping for beautiful jewellery and other accessories, choose one of the most trusted online retailers in the UK, The Jewel Hut. Since 2006 they’ve been making shopping for gorgeous pieces from a whole host of designers simple and straightforward. Don’t forget to make the most of shopping online with a fantastic Jewel Hut discount code here at Groupon. For magpies, minimalists and all other tastes in between, The Jewel Hut is your one stop shop for gorgeous jewellery.