Singapore — Asian stocks advanced on Friday as the Thanksgiving break in the US helped to slow a relentless surge in the dollar that has sucked capital out of most emerging markets. The respite for Asian assets may be short-lived, however, with US treasury yields resuming their climb after the holiday as investors bet that president-elect Trump will adopt policies that increase spending and debt, as well as spur higher growth and inflation. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.3%. It is poised to end the week 1.4% higher, its biggest weekly gain in two months. But it remains down almost 3% from its close on November 8 before Trump’s surprise election. His protectionist campaign promises are widely seen as negative for the region.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.