Asian shares firm as Fed tempers aggressive rate hike bets – Reuters.com
- Date: 05-May-2022
- Source: Reuters
- Sector:Financial Markets
- Country:Gulf
Asian shares firm as Fed tempers aggressive rate hike bets – Reuters.com
HONG KONG, May 5 (Reuters) - Asian shares tracked Wall Street gains on Thursday after the U.S. central bank raised interest rates by 50 basis points but sounded a less hawkish tone than some had feared, lifting investor sentiment but sending yields and the dollar lower.
MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) rose 0.52%, although trading was thin with Japanese and Korean markets closed for public holidays.
Crude prices, meanwhile, shot up as the European Union spelled out some of the details of its plan to ban the use of Russian oil, heightening concerns about supply.
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