The Asian share rally followed a positive close for the three major US indices overnight on encouraging comments from Federal Reserve officialsAsian shares advanced on Friday as fears of an economic slowdown cooled somewhat, though news of the shooting of former Japanese Prime Minister Shinzo Abe jolted Japanese shares and drove up the safe-haven yen.
MSCI’s broadest index of Asia-Pacific shares outside Japan was last trading up 0.3 per cent also having pared earlier gains, with South Korea’s KOSPI index leading the charge up 0.8 per cent and set for its best week in five months.The Asian share rally followed a positive close for the three major US indices overnight on encouraging comments from Federal Reserve officials.
However, he said, “if inflation just doesn’t seem to be coming down, we have to do more,” allowing for possible future 25-basis-point hikes. “You could argue that a stronger figure will mean the Fed has more work to do, and so raises the prospects of a harder landing. But sometimes the market reaction is more simplistic than you might imagine.”
IrishTimes