This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Asia Stocks Rise On Hopes Of New Fed Stimulus Move

PAMELA SAMPSON

BANGKOK (AP) â¿¿ World stock markets were modestly higher Monday as sluggish U.S. growth boosted hopes for more measures from the Federal Reserve to help the world's No. 1 economy.

The Fed has already carried out two massive rounds of bond-buying known as quantitative easing to drive down long-term interest rates and stimulate spending and business investment. Low bond yields also encourage investors to shift money to stocks.

Stan Shamu of IG Markets in Melbourne said that investors shrugged off the weaker-than-expected U.S. economic growth figures released Friday, as well as a second downgrade this year by S&P of Spain's debt, amid hopes that the Fed will launch a new round of bond buying to keep interest rates low.

European stocks were mostly higher in early trading. Britain's FTSE rose 0.2 percent to 5,759.82 and Germany's DAX added 0.2 percent to 6,815.04. France's CAC-40 fell 0.6 percent to 3,246.79.

U.S. stocks were headed for a neutral opening, with Dow Jones industrial futures nearly unchanged at 13,168. S&P 500 futures were flat at 1,398.

Asian stocks were higher in trading thinned by holidays in Japan and mainland China. All major Asian markets except Tokyo will be closed for holidays on Tuesday.

Hong Kong's Hang Seng rose 1.7 percent to 21,094.21, with banking shares racking up solid gains.

South Korea's Kospi added 0.3 percent to 1,981.99 amid improving business sentiment among manufacturers. Australia's S&P/ASX 200 gained 0.8 percent to 4,396.60 as rising commodities prices helped push up its mining sector.

Benchmarks in New Zealand, Taiwan and the Philippines also gained, while Singapore and Indonesia fell. Markets in mainland China and Japan were closed for public holidays.

Riskier assets such as stocks could lose momentum Tuesday, when China is due to release its manufacturing index for April. Shamu of IG Markets said analysts expect a reading of 53.6 for April, up from 53.1 in March. Anything lower could disappoint.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs