Asian markets mostly rose Tuesday after the previous day’s steep losses, though investors trod cautiously as they grow increasingly anxious about the state of the global economy.
With a mixed lead from Wall Street, there were few catalysts to drive buying, while safe-haven flows saw the dollar edge up against high-yielding currencies.
Attention is also back on London, where MPs essentially wrested control of the Brexit debate from Prime Minister Theresa May with a vote that will allow them to decide on a number of possibilities for how to proceed. Investors in Asia were suffering a hangover from Monday’s pummelling, which came on the back of a drop in benchmark 10-year Treasury bond yields below those for three-month bills for the first time since before global financial crisis. This so-called inverted yield curve shows investors are more willing to buy long-term debt — usually viewed as a higher risk — as they consider short-term outlook more hazardous.—AFP