04:06
SHARE MARKET REVIEW
ASIAN STOCKS MARKET
After a three-week selloff in financial markets, measures of risk show investors in Asia are assuming a return to stability, and with a level of confidence that could be horribly misplaced. Fitch Ratings has downgraded Japan's sovereign debt rating to A+ from AA and with a negative outlook, as the country struggles to push through much-needed tax hikes to rein in its huge public debt.
U.S.STOCK MARKET
shares of Nasdaq rose 3.6% Monday to close at USD 22.78, outpacing the Nasdaq 100 index, even as shares of Facebook tumbled 11% to close at USD 34.03, well below the USD 38 IPO price. Nasdaq shares tumbled more than 4% on Friday.
EUROPEAN MARKET
The FTSE Eurofirst index of top European shares was up 1% at 984.29 points in early trade, extending a recovery from five-month lows hit on Monday, with miners such as Rio Tinto and BHP Billiton leading the gains.
U.S.TREASURIES
US 10yr treasury yields are 2bp higher at 1.74%, earlier as high as 1.77%. Fed member Lockhart said Operation Twist would probably end in June as scheduled and thought QE3 was not currently need but didn’t rule it out in future. Australian 3yr bond yields are 2bp higher.
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