Asia stocks gain as Fed hike bets recede, debt vote eases nerves
Timilehin Adejumobi
1 min read
Most Asia-Pacific stock markets rose on Thursday amid receding bets for a U.S. rate hike this month and relief over the passage of the U.S. debt ceiling bill through the House.
The dollar sagged to a one-week low versus the yen and hung close to Wednesday’s more-than-two-month trough to the euro after Federal Reserve officials including Governor and vice chair nominee Philip Jefferson pointed to a rate hike “skip” at the June 13-14 policy meeting.
Treasury yields rose slightly from nearly two-week lows.
Crude oil prices edged off four-week lows following a surprise swing back to growth in a private survey of Chinese factory activity, with an OPEC+ meeting looming on the weekend.
MSCI’s broadest index of Asia-Pacific shares (.MIAP00000PUS) gained 0.45%, rebounding after touching the lowest level since March 22 in the previous session.
Japan’s Nikkei (.N225) added 0.29%, while Hong Kong’s Hang Seng (.HSI) gained 0.5% and mainland Chinese blue chips (.CSI300) advanced 0.53%.
This report’s information was first seen on REUTERS; to read more, click this link.
