Sydney — Asian share markets took a timeout on Wednesday as investors were left breathless at the breakneck pace of recent gains, while a fresh burst of speculative selling took the dollar to three-year lows on the euro. Most Asian stock indices are up anywhere from 5%-10% since the start of the year with many at record highs. "These markets are absolutely flying and have had seemingly one-way moves since late December," noted Chris Weston, chief market strategist at broker IG. "There has clearly been a wall of capital hitting these markets, as is the case with many Asian currencies," he added. "One simply can’t rule out further upside here, even if there are growing risks of buyers’ fatigue kicking in." Early Wednesday, MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.2%, having jumped 1.2% on Tuesday to a record peak. Japan’s Nikkei lost 0.8% as the yen strengthened, though that was from a 26-year top. Figures out of Japan showed exports growing for a 13th consec...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.