Asian stocks climb on Wall Street's lead; dollar sags after Fed cut
Fed's Powell says won't "guess" Trump policies
US Treasury yields, dollar pulled back from multi-month peaks
S&P 500, Nasdaq pushed to all-time highs, Dow held steady
World equities index at record peak, on track for 3.3% weekly advance
Chinese equities buoyant as stimulus hopes counter Trump tariff threat
By Kevin Buckland
TOKYO, Nov 8 (Reuters) -Asian stocks rose broadly on Friday, tracking Wall Street's overnight rise to record highs, as investors digested the Federal Reserve's message for careful interest rate cuts even with expectations for big fiscal spending under incoming President Donald Trump.
U.S. Treasury yields pushed to new lows in Asian hours, keeping the dollar under pressure after its biggest decline versus major peers in more than six weeks on Thursday.
Asia-Pacific stocks .MIAP00000PUS were on track for a 3.1% rally this week, after quickly recovering from a knee-jerk dip on U.S. election night, which spurred worries of debilitating trade tariffs, not least in China.
However, optimism over stimulus from Beijing buoyed sentiment as the week-long National People's Congress Standing Committee meeting concludes on Friday with officials holding a briefing. Sources previously told Reuters that Chinese fiscal spending could be increased in the event of a second Trump presidency.
Mainland Chinese blue chips .CSI300 were up 0.5% as of 0155 GMT, after a 3% surge on Thursday. Hong Kong's Hang Seng .HSI gained 1%.
Japan's Nikkei .N225 added 0.25%, up 3.7% for the week.
Australia's stock benchmark .AXJO climbed 1%, and Taiwan's benchmark .TWII gained 0.7%.
Global stocks .MIWD00000PUS, led by Wall Street, are headed for a 3.3% weekly advance, and stand at a record high.
Trump swept back to the White House on Tuesday with Republicans taking back the Senate and potentially increasing their House majority, although votes are still being counted. The outcome defied polls that predicted a neck-and-neck race with Democrat Kamala Harris.
Investor expectations that Trump would lower corporate taxes and loosen regulations sent all three major Wall Street indexes to record peaks on Wednesday, and the S&P 500 .SPX and Nasdaq .IXIC extended those highs on Thursday, with Fed Chair Jerome Powell signalling continued, patient policy easing. The Dow .DJI ended flat.
"We think that the economy, and we think our policies, are both in a very good place, a very good place," Powell said in his post-meeting news conference.
"We don't know what the timing and substance of any policy changes will be," Powell said, referring to the incoming Trump administration, whose tariffs and immigration policies are expected by analysts and investors to be inflationary.
U.S. two-year Treasury yields US2YT=RR, which are highly sensitive to monetary policy expectations, edged down to 4.2119% on Friday, compared with a more than three-month high of 4.3120% on Wednesday.
The dollar index =USD, which measures the currency against six major peers, ticked up slightly to 104.53, but that followed a 0.7% drop on Thursday, its biggest since Aug. 23. On Wednesday, it soared 1.53%, the most in over two years.
"Markets have already gone through the 'honeymoon period' for the president-elect, and USD and U.S. rates now are in the 'window period', when they consider the policy outlook," said Shoki Omori, chief Japan desk strategist at Mizuho Securities.
"The key is whether the president-elect and his team want more fiscal issuance next year," and market participants will again need to be alert for potentially market-moving posts from Trump on social media, Omori said.
Bitcoin BTC= was flat at $76,000, following a nearly 10% surge this week, hitting a record peak of $76,980 on Thursday. Trump has vowed to make the United States "the crypto capital of the planet".
Gold XAU= struggled to make any additional headway following its rollercoaster week, easing 0.2% to $2,701.55 in the latest session. It slumped more than 3% on Wednesday, but bounced 1.8% overnight. Last week it surged to an all-time high of $2,790.15.
Oil prices edged lower on Friday, following gains of about 1% overnight as the market weighed how President-elect Donald Trump's policies would affect supplies and as drillers cut output while bracing for Hurricane Rafael.
Brent crude oil futures LCOc1 were last down 0.22% at $75.46 a barrel, while U.S. West Texas Intermediate (WTI) crude CLc1 eased 0.35% to $72.11.
World FX rates YTD http://tmsnrt.rs/2egbfVh
Asian stock markets https://tmsnrt.rs/2zpUAr4
Reporting by Kevin Buckland; Editing by Muralikumar Anantharaman
Ativos relacionados
Últimas notícias
Isenção de Responsabilidade: As entidades do XM Group proporcionam serviço de apenas-execução e acesso à nossa plataforma online de negociação, permitindo a visualização e/ou uso do conteúdo disponível no website ou através deste, o que não se destina a alterar ou a expandir o supracitado. Tal acesso e uso estão sempre sujeitos a: (i) Termos e Condições; (ii) Avisos de Risco; e (iii) Termos de Responsabilidade. Este, é desta forma, fornecido como informação generalizada. Particularmente, por favor esteja ciente que os conteúdos da nossa plataforma online de negociação não constituem solicitação ou oferta para iniciar qualquer transação nos mercados financeiros. Negociar em qualquer mercado financeiro envolve um nível de risco significativo de perda do capital.
Todo o material publicado na nossa plataforma de negociação online tem apenas objetivos educacionais/informativos e não contém — e não deve ser considerado conter — conselhos e recomendações financeiras, de negociação ou fiscalidade de investimentos, registo de preços de negociação, oferta e solicitação de transação em qualquer instrumento financeiro ou promoção financeira não solicitada direcionadas a si.
Qual conteúdo obtido por uma terceira parte, assim como o conteúdo preparado pela XM, tais como, opiniões, pesquisa, análises, preços, outra informação ou links para websites de terceiras partes contidos neste website são prestados "no estado em que se encontram", como um comentário de mercado generalizado e não constitui conselho de investimento. Na medida em que qualquer conteúdo é construído como pesquisa de investimento, deve considerar e aceitar que este não tem como objetivo e nem foi preparado de acordo com os requisitos legais concebidos para promover a independência da pesquisa de investimento, desta forma, deve ser considerado material de marketing sob as leis e regulações relevantes. Por favor, certifique-se que leu e compreendeu a nossa Notificação sobre Pesquisa de Investimento não-independente e o Aviso de Risco, relativos à informação supracitada, os quais podem ser acedidos aqui.
