Asian stocks reach two-year peak after Fed hints at gradual tightening

Asian stocks reach two-year peak after Fed hints at gradual tightening

On Thursday, Asian stocks hit two-year peaks, while the evergreen buck and American bond yields dipped after the Fed signaled a cautious approach to future rate lifts as well as the reduction of its $4.5 trillion of bond holdings.

MSCI's broadest index of Asia-Pacific stocks soared 0.7%, reaching its highest value since June 2015, and also bringing its revenues to 17% so far in 2017.

The revenues were led by South Korean stocks that inched up 1%, reaching record peaks. In Hong Kong, the Hang Seng tacked on 0.8%, getting to its highest level since July 2015. Meanwhile, Taiwanese stocks conquered 17-year peaks.

Japan’s Nikkei leapt 0.4%.

As for mainland Chinese stocks that were unsettled by Moody's sudden downgrade of its credit rating on China on Wednesday, they retreated 0.3%.

The Canadian dollar grew to a five-week peak of C$1.3402 per greenback right after the Bank of Canada was more optimistic as for the country’s economy than some traders had actually expected.



Japan real wages surge is slowest in almost two years

Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…

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