Asian shares climbed to a one-month high on Thursday, as renewed hopes for more U.S. stimulus helped restore investor confidence with markets now pricing in a Democratic victory during elections in November.
- MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3% for its fourth straight session of gains to a level not seen since early September.
- Australia’s benchmark index jumped 1.1% to a one-month high helped by a larger-than-expected fiscal stimulus announced in federal budget on Tuesday night.
- Japan’s Nikkei added 0.5%.
- In commodities, spot gold was a shade weaker at $1,886 per ounce.
- Oil prices were weaker on higher crude inventories.
- Brent crude futures fell 2 cents to $41.97 a barrel, while U.S. crude was down 2 cents to $39.87 a barrel.