* Asian stock markets: tmsnrt.rs/2zpUAr4
* MSCI ex-Japan moves higher, kicks Nikkei
* S&P 500 futures stable despite doubts about vaccine distribution
* Wholesale crowds turn a blind eye to money, jumping to a 6-mth high
* Dollar backed by careful feeling, brace bands for supplies
SYDNEY, Feb. 1 (Reuters) – Asian shares rallied Monday and U.S. stock yields recovered an early loss as new retail investors turned their attention to precious metals, promising relief for some of hard hedge property.
MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 1.4% after four straight sessions of losses.
Japan’s Nikkei added 1.2%, after peeling at nearly 2% on Friday, while Chinese blue chips gained 0.5% as the country’s central bank pumped more money into money markets.
Futures for the S&P 500 rose 0.3%, after falling as much as 1% in early action, while NASDAQ futures were up 0.1%. EUROSTOXX 50 futures added 0.6% and FTSE futures 0.2%.
Retailers noted a shift in the headline battle between retail investors and Wall Street that led to hedge funds last week trading most stocks in a decade among wild moves in GameStop Corp.
There was talk now that money was the new target for the retail population, as the metal jumped 6% to a six-month level, possibly limiting the need for worrying sales with stock money.
Analysts warned that this entertainment program was indeed on both sides compared to signs of a loss of economic momentum in the United States and Europe as coronavirus locks bitten.
In fact, two studies from China showed that factory activity slowed in January due to tax restrictions in some regions.
And the news of vaccine distribution was not good, especially doubts about whether they will work on new COVID series.
“It is these considerations, not what happens to a day-to-day video game vendor, that have put pressure on risk assets,” said John Briggs, head of global strategy at NatWest Markets. “So much of the market valuation, particularly risk, is based on seeing the light at the end of the COVID tunnel.”
Doubts have also been raised about the fate of President Joe Biden’s $ 1.9 trillion relief package, with 10 Republican elders pushing for a $ 600 billion plan.
The jitters in stocks caused only a slight uptick in bonds, with Treasury yields rising late last week, possibly a tidal wave of lending going forward.
$ 1.11 trillion of total Revenue distribution is slated for this quarter, up from $ 685 billion the same period last year.
On Monday, U.S. 10-year yields were up 1.08% and closer to the recent 10-month high of 1.187%.
Higher yields coupled with more cautious market sentiment have made the dollar safe to stabilize above recent lows. The dollar index stood at 90.535, after kicking off a pool of 89.206 that hit in early January.
The euro rested at $ 1.2129, well off its recent peak at $ 1.2349, while the dollar remained strong at 104.70 yen.
Gold followed silver to $ 1,862 an ounce, but has again stopped at a level of around $ 1,875.
Oil also tracked the gains in other commodities, with U.S. crude rising 21 cents to $ 52.42 a barrel. Brent crude times earned 33 cents to $ 55.37.
Reciting with Wayne Cole; Edited by Shri Navaratnam, Richard Pullin and Gerry Doyle