-- Stocks in Asia extended gains as risk appetite across financial markets got a further boost from China’s latest stimulus measures and upbeat US momentum.Equities in Australia advanced, while China’s benchmark CSI 300 Index is set for its biggest weekly gain in almost a decade after officials pledged to increase fiscal support and stabilize the property sector to revive growth.
“Greater stimulus measures out of China and the market pricing an aggressive Fed easing cycle, while the US economy is strong, bode well for risk assets,” Elias Haddad, a strategist at Brown Brothers Harriman, wrote in a note. “This encouraging risk backdrop is a drag on the dollar mostly against growth-sensitive currencies.”
“We think there is the potential that economic data will be more resilient, especially on jobs, than the market is expecting,” said Peter Tchir, head of macro strategy at Academy Securities.
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