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Asian equities reach 10-year maximum ahead of American data
On Friday, Asian equities soared to a 10-year maximum due to expectations of brisk global surge, although market participants held off chasing stocks higher ahead of American economic data as well as next week's Chinese Communist Party Congress.
MSCI's broadest index of Asia-Pacific stocks outside Japan gained 0.15%, having soared 3.6% so far in October. Japan's Nikkei grew 0.2% hitting another 21-year maximum.
On Thursday, Wall Street equities sank a bit, suppressed by a dip in AT&T right after the telecoms company posted subscriber losses in its cable TV business.
However, MSCI's broadest indicator of the world stock exchanges gauging up to 47 markets also stood kept to record maximums, extending its revenues so far in 2017 to 17%.
China's trade data demonstrated that in September surge in both imports and exports speeded up, with imports surpassing hopes, contributing to the evidence of recent resilience in the Chinese economy.
The Reserve Bank of Australia will publish its statement and announce the interest rate on July 7, at 7:30 MT time.
The overall market sentiment was mixed after the USA recorded the largest increase in virus cases since May 9. The data even offset the better-than-expected NFP.
The risk-on tone is back on the market again. Let’s look at main trading opportunities.