Asian stocks track Wall Street higher

A pedestrian walks past an electronic board displaying Asian stock market indices in Tokyo, Japan. Picture: BLOOMBERG/TOMOHIRO OHSUMI

MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.5%, while Japan’s Nikkei average climbed 1.9%. On Wall Street, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite clocked their biggest one-day gains in five months, with all three indexes ending up more than 2% on Tuesday.

Chinese President Xi Jinping said the country’s economy is stable, healthy and well placed to meet all risks and challenges, according to a transcript published by the Xinhua news agency.The greenback hit a seven week-low of 96.995 against a basket of six major currencies overnight and was last quoted at 97.045, little changed on the day. The euro fetched $1.1263, up by a marginal 0.1%.

Australia Australia Latest News, Australia Australia Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Maverick: Trade Risks Prompt Predictions for Fed Rate CutsMarkets rallied after Federal Reserve officials said they were closely monitoring the recent escalation in trade tensions and indicated they could respond to any economic deterioration by cutting interest rates.
Source: dailymaverick - 🏆 3. / 84 Read more »

Manufacturing migration: Trade spat shifts business from 'Factory of the World'From socks and sneakers to washing machines and watches, Asian countries are hoping the US-China trade war will permanently boost manufacturing as brands dodge the row by choosing cheaper locations to make their goods.
Source: TimesLIVE - 🏆 28. / 59 Read more »