- Home
- >
- Fundamental Analysis
- >
- Asia stocks rally as Nikkei tops 20,000; Yen slips
Asia stocks rally as Nikkei tops 20,000; Yen slips
Rating:
Loading...Asian stocks rallied, with the Nikkei 225 Stock Average topping 20,000 for the first time since 2015, as the yen weakened after private American hiring data bolstered confidence in the global economy.
The MSCI Asia Pacific Index traded at the highest level in two years after the S&P 500 Index and the Dow Jones Industrial Average closed at all-time highs. The dollar held on to gains triggered by a report showing companies added more workers to U.S. payrolls in May than forecast. The onshore yuan retreated after a four-day surge as China’s central bank kept its daily yuan fixing level little changed.
Global equities extended this year’s advance to more than 10 percent, setting a fresh record, as data showed growth in the world’s largest economy is intact. The Topix index has been among the biggest gainers this week among developed markets, with investors returning to Japanese stocks as corporate profits climb to a record while data reinforces views of a continuing moderate recovery.
Concerns over global markets remain, with U.S. inflation trailing expectations. With investors primed for an interest- rate increase at this month’s Federal Reserve meeting, all eyes will turn Friday to the latest U.S. hiring report.
Source: Bloomberg Pro Terminal
Jr Trader Alexander Kumanov
Varchev Traders Read more:
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
