Asian shares creep up to their highest in four months
Australian equities are the star performers while the New Zealand dollar sinks after investors narrow the odds of a future rate cut after disappointing jobs data
Sydney — Asian share markets edged up to four-month highs on Thursday with Australian equities the star performers while the New Zealand dollar sank after disappointing jobs data prompted investors to narrow the odds of a future rate cut. Trading was still light overall with China on holiday and no major economic data on the diary. MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.2%, rising to its highest since early October after ending almost unchanged on Wednesday. The index has risen steadily since early January as the US Federal Reserve changed its tune on policy for further rate rises. Australia’s benchmark stock index jumped 1.2% amid the expectation of easy monetary policy after the country’s central bank chief shifted away from his previous tightening bias. Japan’s Nikkei slipped 0.7%. E-mini futures for the S&P 500 as well as Dow minis were both off 0.2%. The next major trigger for markets will be any breakthrough in the US-China tariff talks when the two...
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