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TOKYO (Reuters) – Asian stocks advanced on Friday after optimistic data and optimism in the tech sector boosted Wall Street stocks, easing some of the concerns over the Federal Reserve's cautious outlook on stocks. the largest economy in the world.
FILE PHOTO: A man looks at an electronic trading chart outside a brokerage in Tokyo, Japan on October 1, 2018. REUTERS / Toru Hanai
The largest MSCI index of Asia-Pacific equities outside Japan rose 0.25%, while Japan's Nikkei gained 0.3%.
On Wall Street, the S & P 500 index rose 1.09%, while the Nasdaq Composite index rose 1.42%, with the Philadelphia SE Semiconductor index rising 3, 5%.
Apple Inc. led the growth in the technology sector, up 3.7%, ahead of the company's scheduled start of streaming next week.
Thursday's US economic data was optimistic, as initial jobless claims fell more than expected and activity at the mid-Atlantic central plants rebounded sharply.
The figures have eased concerns over the economic outlook in the US after the Fed surprised investors Wednesday by adopting a clearly accommodative stance, not anticipating any further interest rate hikes this year and ending its cancellation.
The dollar also rebounded, with an index consisting of a basket of six major currencies reaching 96,316 against 95,735, its lowest level since Wednesday to a month and a half.
The euro traded at 1.1337 USD, against 1.14485 USD the highest in a month and a half reached Wednesday.
The dollar was 110.77 yen after reaching its lowest level in five weeks at 110.30 on Thursday.
The 10-year US benchmark yield fell to 2.500% on Thursday, its lowest level since early January of last year.
The five-year yield fell to 2.34%, about 2.40% below the current federal funds rate, as federal futures prices were expected to reduce rates by about 50%. % this year.
"The main market reaction to the Fed's announcement was that it had become a consensus that the next Fed decision was a rate cut," said Naoya Oshikubo, senior director at Sumitomo Mitsui. Trust Asset.
"As economic data from China and other countries have not yet reached their lowest level, investors will look at the fundamentals of the economy for now. If there were improvements, the markets could then cancel the expectations of a Fed rate cut, "he said.
Britain's new wave of exit from the European Union was marked by heavy losses: the pound sterling was once again bruised by the growing concern over a Brexit without agreement.
European leaders said Britain could leave the EU without an agreement on April 12 if lawmakers failed next week to back Prime Minister Theresa May's deal with Brussels.
European leaders have given two more months in May, until May 22, to leave if it wins the vote in Parliament next week.
The pound is trading at $ 1.3124 after falling to $ 1,3004 the day before. Against the euro, it reached Thursday its lowest level in a month, to 0.8722 euro EURGBP = D4 and stood for the last at 0.8664.
Oil fell around the peaks of 2019, supported by a climate of risk, OPEC production cuts and US sanctions imposed on major producers, Iran and Venezuela.
US crude traded at $ 59.98 a barrel.
Edited by Shri Navaratnam
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