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Asian stock markets advanced slightly on Thursday after the US Federal Reserve Chairman warned of lingering uncertainties in the US economy, bolstering expectations of interest rate cuts.
In the early morning, the Hong Kong Hang Seng Index and South Korea's Kospi rose by 1% each. The Japanese benchmark, Topix, climbed 0.3%, recording a three-day loss. The Australian S & P / ASX 200 Index rose 0.2%, its index now reaching its highest level.
China, according to the CSI 300, added 0.5% of the names registered in Shanghai and Shenzhen.
Earlier, the S & P 500 briefly crossed the 3,000-point mark for the first time in 62 years, after Fed Chairman Jerome Powell told a Capitol Hill audience that uncertainties about the US economy "have increased in recent months". These comments led the dollar to weaken against the major currencies.
Some investors were worried that the Fed would not be forced to reduce the unexpected employment report last week.
"Local stock markets are known for the best of both worlds … Local investors love nothing more than lower US interest rates and a weaker US dollar," said Stephen Innes, chief executive officer of Vanguard Markets. .
On Thursday, in Asian trading, the Japanese yen rose 0.3% against the greenback, while gold rose 0.4%. The futures on the S & P 500 index expected gains of 0.1% when Wall Street will open next Thursday.
To come up
- Consumer price index in Sweden
- France IPC
- Ireland Gross Domestic Product Q1
Stories of the best markets
Markets Briefing is an overview of global markets, updated throughout the trading day by Financial Times journalists in Hong Kong, New York and London. Return of information? Write in the comments below or send us an email.
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