Asian Equities Advance, Yen Strengthens as Wall Street Gains
Tokyo - Asian equities climbed for a third consecutive day to reach their highest level since December 18, buoyed by positive sentiment from Wall Street's gains in stocks and bonds.
Key Market Moves
* Japan's Topix Index rose 0.3%.
* Australia's S&P/ASX 200 Index gained 1.2%.
* Hong Kong's Hang Seng Index advanced 0.3%.
* The Shanghai Composite Index rose 0.8%.
Yen Strengthens
The Japanese yen appreciated against the dollar, reaching its highest level since early December. This move occurred despite comments from Bank of Japan board member Naoki Tamura, who suggested interest rates could reach 1% by mid-2025.
US Markets Steady
US equity futures remained stable following gains in the S&P 500 and Nasdaq 100 on Wednesday. Treasuries were also steady after a sharp rally overnight.
Market Sentiment
"Asian markets are taking a break from uncertainties over US-China tariffs," said Gary Ng, senior economist at Natixis SA. However, he warned that President Trump's policies remain a source of volatility and could continue to influence investment flows.
Other Market Highlights
* Vietnam's inflation accelerated to its fastest pace in six months.
* Singapore plans to announce stock market measures soon.
* The Bank of England is expected to cut interest rates by 25 basis points to 4.5%.
Commodities
Gold rose for a sixth consecutive day, its longest streak since April, amid market concerns over supply tightness.