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Equities, Metals, Oil Rebound After Asia-Wide Rout
Asian stocks rebounded sharply after a steep rout, driven by a strong US dollar rally and Donald Trump's nomination of Kevin Warsh as Federal Reserve chair.
- Following a New York rally, Asian trading floors regained ground, with stocks and precious metals rebounding on Tuesday, as the dollar surged after Trump's Fed pick.
- Last week, analysts said that Donald Trump, US President, tapped Kevin Warsh, raising prospects of more dollar-supportive policy, which contributed to the dollar's surge.
- The dollar's recovery pushed gold to $4,402 and silver to $71, with Pepperstone's Chris Weston warning that metals are wounded after sharp liquidations, in recent weeks.
- Seoul led advances, up around five percent after Monday's drop, while West Texas Intermediate and Brent North Sea Crude moved sharply as the dollar strengthened.
- Liquidity mechanics and margin calls, not fundamentals, were cited for the Monday move, with the tech‑rich index climbing around 20 percent this year and Monday's fall attributed to liquidity pressures, analysts said.
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38 Articles
Coverage Details
Total News Sources38
Leaning Left2Leaning Right7Center12Last UpdatedBias Distribution57% Center
Bias Distribution
- 57% of the sources are Center
57% Center
C 57%
R 33%
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