Asian stocks reach two-month high on economic recovery hopes

Asian stocks rose to a two-month high on Thursday as expectations of further government stimulus supported investor confidence in an economic recovery from the global coronavirus pandemic.

Asian Shares

  • MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.43%, earlier touching the highest since March 9.
  • Euro Stoxx 50 futures were down 0.03%, German DAX futures were up 0.17%.
  • FTSE futures were down 0.1%, suggesting a cautious start for European equities.
  •  Japanese shares rose 0.41% and South Korean stocks gained 0.28%.

Currency Markets

  • The yen fell 0.2% to 109.06 per dollar.
  • The offshore yuan held at 7.1262 per dollar.
  • The euro bought $1.1217, down 0.1%.

Bonds

  • Bonds The yield on 10-year Treasuries ticked up to 0.75%.
  • Australia’s 10-year yield rose five basis points to 1.02%.

Commodities

  • West Texas Intermediate crude dipped 1.9% to $36.59 a barrel.
  • Gold was up 0.1% at $1,701.08 an ounce after tumbling 1.6% on Wednesday.

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