TOKYO — Asian shares firmed on Thursday thanks to stronger US economic data, while the growing prospect of a near-term US rate hike and possible tapering of stimulus in Europe hit gold and lifted the dollar to one-month highs versus the yen. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.4% while Japan’s Nikkei gained 0.6%. On Wednesday, US S&P 500 index gained 0.43%, led by banks and energy companies. US services sector activity recovered sharply in September from six-year low hit in August, following similarly upbeat news from US factories on Monday. "Both manufacturing and service indices recovered from big falls in August. While it is not clear what the underlying US economic trend is, given the recovery in Japanese and Chinese surveys the global economic cycle appears to be rebounding for now," said Chotaro Morita, chief bond strategist at SMBC Nikko Securities. Growing optimism on the US economy boosted bets that the US Federal Reserve will raise interest ra...
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