Stan Rogers Folk Festival 2024: 27 years of music and community | SaltWire #festival #music #nsSINGAPORE - Asian stocks rose on Friday and were poised for the fourth month of gains, while the dollar drifted lower, keeping the yen steady as investors await inflation readings from Europe and the U.S. that will likely dictate the path of interest rates globally.
Japan's Nikkei was up 0.20% and is flat for the month. China stocks also rose, with the blue-chip index up 0.23% while Hong Kong's Hang Seng index spiking 1.3% higher. Tony Sycamore, market analyst at IG, said the market is taking a more cautious approach to the European and U.S. PCE inflation data after upside surprises in Australia and German inflation reports earlier this week.
The yen was last at 156.74 per dollar, having touched four-week lows of 157.715 on Wednesday. The currency weakened to its lowest in 34 years at 160.245 on April 29, sparking at least two suspected rounds of interventions.