(Bloomberg) – Asian stocks rose on Monday, along with US and European futures amid a wave of deals and signs of progress towards a virus vaccine. The dollar depreciated and government securities changed slightly ahead of this week̵
South Korea led to regional gains of more than 1%. S&P 500 futures rose about 1%. Comments from the CEO of Pfizer Inc. on the possible introduction of a vaccine for Americans by the end of the year supported sentiment, as well as reports that the deal for TikTok in the US is about to be concluded.
SoftBank Group Corp. jumped after Nvidia Corp. agreed to buy the chip division of the Japanese company Arm Ltd. for $ 40 billion, while Gilead Sciences Inc. will acquire Immunomedics Inc. for about $ 21 billion. Gold and crude oil scored higher.
Global stocks are withdrawing from the first consecutive weeks of decline since March, and traders remain on the brink given the recent reassessment of valuations and the volatility of options markets. The Fed is expected to maintain its policy stance this week as investors look for signs that the global economy is recovering from the pandemic. Strategists from Goldman Sachs Group Inc. and Deutsche Bank AG suggest that the recent retreat in the United States is coming to an end.
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“Undoubtedly, the history of the virus is the dominant event of the macro team, especially for stocks, and is more likely to be dominated by optimism about the vaccine,” said Stephen Ines, chief market strategist at AxiCorp Ltd. “This is a busy week at the central bank ahead, where the FOMC meeting will take center stage. “
Pfizer’s comments suggest shorter vaccination times than most health officials suggest. Earlier, AstraZeneca Plc and the University of Oxford resumed a British trial of their vaccine after the study was stopped due to concerns about a participant who became ill.
Elsewhere, Japan’s ruling party elects its new leader on Monday. Yoshihide Suga is the favorite to replace Prime Minister Shinzo Abe.
Here are some key upcoming events:
Data on industrial production and retail sales in China are due to be presented on Tuesday. On Wednesday, the decision on FOMC policy and a press conference by President Jerome Powell. The Bank of Japan, the Bank of Indonesia and the Bank of England are coming on Thursday. quarterly expiration of futures and options on indices and stocks occurs on the same day.
These are the main moves in the markets:
S&P 500 futures rose 1.3% at 6:45 a.m. in London. The index ended on Friday, changed slightly. Japan’s Topix index rose 0.7%. The Hong Kong Hang Seng Index rose 0.5%. The Shanghai composite rose 0.1%. The Kospi index in South Korea added 1.1%. Australia’s S & P / ASX 200 index rose 0.5%. Euro Stoxx 50 futures won 0.4%.
The Bloomberg Dollar Spot index fell 0.1%. The yen added 0.1% to 106.04 per dollar. The offshore yuan was at 6.8313 per dollar. The euro bought $ 1.1847, little changed. The kiwi rose 0.4% to 66.94 US cents.
The yield on 10-year treasury securities remained at 0.66%. Australia’s 10-year yield fell four basis points to 0.87%.
Texas Intermediate stocks rose 0.4% to $ 37.49 a barrel.
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