Asian shares track Wall Street higher as US yields stabilise

Asian shares track Wall Street higher as US yields stabilise

Traders were waiting for a European Central Bank meeting later in the day, to see if it was as hawkish as others have been.







Reuters









April 14, 2022 / 08:14 AM IST





(Representative image)



Asian shares tracked Wall Street higher on Thursday, while U.S. Treasury yields steadied and dollar retreated, as latest U.S. data raised hopes that inflation may be close to peaking, though several major central banks raised rates aggressively.

Traders were waiting for a European Central Bank meeting later in the day, to see if it was as hawkish as others have been.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4% in early Asian trading, buoyed by a 0.5% gain in Australia's resource-heavy shares and a 0.6% advance in mainland China's blue chip stocks. Japan's Nikkei was up 1.2%.

South Korean shares were an outlier on Thursday. The KOSPI index fell 0.4% as the central bank raised its policy rate to the highest since August 2019 in an unexpected move as it seeks to quell surging inflation.

Asian markets including Hong Kong, Singapore and Australia are on holiday on Friday for Easter, as are major European and U.S. markets.

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