Market Overview: Japan and Korea Lead Gains, Regional Risk Appetite Improves
On February 3, the Asia-Pacific stock markets strengthened overall: Japanese stocks surged, Korean stocks led the gains, and Taiwanese and Chinese A-shares also rose in tandem, indicating a significant easing of the previous risk-averse sentiment.
Driving Factors: U.S. ISM Data "Unexpectedly Strengthened," U.S. Stocks Stabilized First
A key catalyst for the recovery in sentiment came from U.S. economic data: ISM reported that the January manufacturing PMI rose to 52.6, returning to expansion territory and significantly exceeding the previous value, reinforcing the expectation that "demand resilience remains"; the overnight rebound in U.S. stocks also provided a reference point for the Asia-Pacific markets at the opening.
Commodities and Sentiment: Gold and Silver Rebound to "Stop the Bleeding" in the Market
Following previous volatility in precious metals, gold prices rebounded to around $4,800 per ounce, while silver prices also saw a rapid rebound (with intraday gains approaching or exceeding 5%), playing a "stabilizing" role in overall risk sentiment and indirectly prompting a recovery in stock markets.
Outlook: Data and Policy Expectations Remain Central
Whether the short-term rebound can continue still depends on whether subsequent macroeconomic data continues to confirm that the "economy is not stalling," as well as the market's repricing of the monetary policy path. For investors, a moderation in volatility does not mean risks have disappeared; position management and event schedules should still be prioritized.
