Asia shares extended their rally on Tuesday as positive Chinese and U.S factory ...
TOKYO - Asia shares extended their rally on Tuesday as positive Chinese and U.S factory activity surveys aided investor confidence, and the ebbing concerns over the global economy spurred selling of safe-haven U.S. bonds as yields rose from 15 month troughs.
Australian shares gained half a percent and Japan’s Nikkei advanced 0.3 percent, extending its gains for a third session.Wall Street shares jumped on Monday, with the S&P 500 and Dow Jones Industrial Average both rising more than one percent, with the Dow lifted by sharp gains in Caterpillar Inc and Boeing Co. [.N]
The rare bright news for the global economy comes in the wake of persistent worries over cooling demand across the world, with the Sino-U.S. tariff war, slowing trade and subdued corporate profits prompting investors to dump risk assets over the past several months. The encouraging data on manufacturing activity in the world’s two biggest economies spurred some investors to scale back holdings of safe-haven bonds, triggering the biggest single-day jump in U.S. 10-year Treasury note yields since Jan. 4.
The British parliament failed on Monday to find a majority for any proposed alternative to Prime Minister Theresa May’s divorce deal, though support for an alternative that included a customs union was far higher than for May’s deal.
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