Asia shares up on China data, await clutch of central bank meetings
**Equities:**
The global selloff in stocks continued as concerns over rising inflation shook markets ahead of FOMC BOJ Meetings this week.
Tech stocks led losses, notably Adobe, with disappointing slip. Attention now shifts to Nvidia’s GTC event for potential new chip unveilings.
Despite expectations of BOJ normalization, Nikkei opened stronger, supported by yen weakness.
MSCI’s broadest index of Asia-Pacific shares outside Japan opens new tab gained 0.1%, after dipping 0.7% last week. Chinese blue chips (.CSI300), opens new tab firmed 0.4%.
**FX:**
The dollar started the week strong. USDJPY is nearing 149, EURUSD steady below 1.09, influenced by ECB signals on a possible rate cut.
**Commodities:**
Gold softened on inflation worries, but Silver reached YTD highs. Oil rose due to increased global demand forecasts and ongoing geopolitical tensions. Brent added 22 cents to $85.56 a barrel, while U.S. crude rose 25 cents to $81.29 per barrel.
**Fixed Income:**
Treasuries sold off on renewed inflation concerns. 10-year notes had their worst week of the year, with yields rising over 20bps.
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