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