Asian stocks up on hopes Fed will adopt slow approach to more hikes

  • 📰 inquirerdotnet
  • ⏱ Reading Time:
  • 38 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 86%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Asian shares rose after Wall Street reversed losses on signals of a measured policy tightening approach from the U.S. Federal Reserve as well as on prospects of a solid economic recovery in China. | Reuters

“We expect the government to provide a pro‑growth policy agenda, with support for both infrastructure and property sectors,” said analysts at Commonwealth Bank of Australia in a note.

Australian shares were up 0.36 percent, helped by gains in miners and financials, while Japan’s Nikkei stock index rose 1.42 percent. U.S. stocks rose on Thursday, reversing earlier losses, as Treasury yields pulled back from earlier highs, following the rates comments from Atlanta Fed President Bostic.

The yield on benchmark 10-year Treasury notes touched 4.0556 percent compared with its U.S. close of 4.073 percent on Thursday. The two-year yield, which rises with traders’ expectations of higher Fed fund rates, rose to 4.8913 percent compared with a U.S. close of 4.904 percent.In currencies, the dollar index, which tracks the greenback against a basket of currencies of other major trading partners, was down at 104.86.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

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

Stocks, dollar power higher on 'slow and steady' rate hopesWall Street stocks rebound from an initial decline on Thursday, March 2.
Source: rapplerdotcom - 🏆 4. / 86 Read more »