Asia-Pacific markets rise; Japan's factory output sees worst drop in eight months
Publishing timestamp: 2023-02-27 20:00:21
Summary
Asia-Pacific markets were higher on Tuesday as investors digested key economic data across region. Japan's retail sales surged 6.3% for January compared to same period last year, beating economists expectations of 4%. Japan's industrial production fell 4.6% compared to month ago in January. Two tech themes have taken Wall Street by storm so far this year. Tesla shares are unlikely to make comeback in part due to price cuts EV maker announced late last year. People's Bank of China and China Banking and Insurance Regulatory Commission released draft of measures to enhance financial institutions' capacity in lending to firms that lease residential properties. Chart analysts say last week's sell-off can be tied with advances in bond yields. Morgan Stanley said S&P 500 is on verge of falling back into bear market. 2-year yield added to its February gains Monday, reaching 4.8% on day.
Sentiment: MIXED
Tickers: .SSEC, .IXIC, .SZI, AUD=, .N225, .AXJO, @LCO.1, .DXY, .HSI, .KS11, JPY=, TSLA, @CL.1,
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