Asia stocks reach five-week high. Big gains for yuan
Asian stocks reach up to five-week highs on Friday, after Chairman Jerome Powell reiterated the Federal Reserve will be patient about raising interest rates and news that trade talks between Sino and US are moving to higher levels.
- MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.2 percent to the highest levels since Dec. 6.
- Japan’s benchmark Nikkei (N225) advanced 0.7 rose percent.
- Shanghai Composite Index (SSEC) initially rose 0.8 percent.
- The dollar index (DXY), measuring it against major peers, dipped 0.1 percent to 95.38.
- The euro firmed 0.2 percent to $1.1523 (EUR=).
- The dollar dipped 0.1 percent to 108.28 yen.
- West Texas Intermediate crude futures (CLc1) slipped 0.6 percent to $52.30 per barrel.
- The 10-year U.S. Treasuries yield last stood at 2.728 percent (US10YT=RR).