Most emerging Asian shares gained on Thursday following positive cues from Wall Street overnight as U.S. consumer price data soothed inflation fears and Treasury yields eased, while regional currencies firmed as the dollar nursed losses.
The South Korean benchmark climbed over 2 per cent after five consecutive sessions of declines, while Taiwan and Singapore added 1.6 per cent and 0.9 per cent respectively. South Korea s central bank warned that consumer inflation could gain traction at a faster-than-expected pace.
Regional currencies strengthened as the greenback fell after inflation data and a decline in Treasury yields led some investors to trim bets on a rapid rise in inflation.
Read more about World stocks hit highest in a week as inflation worries ebb on Business Standard. E-mini futures for the U.S. S&P 500 index gained to their highest in two weeks, up 0.7%
LONDON, March 11 (Reuters) - World stocks rose to their highest in just over a week on Thursday after a report on U.S. consumer prices calmed investor nerves about inflation and lifted the Dow Jones Industrial Average to a record close.
European stocks climbed, with the pan-European STOXX 600 index reaching a one-year peak and up 0.2% on the day. France’s CAC 40 index rose 0.14%, and Italy’s FTSEMIB 0.8%%. Britain’s FTSE 100 index fell 0.36% and Germany’s DAX traded flat.
MSCI’s All Country World Index, which tracks stocks across 49 countries, rose to its highest in just over a week, up 0.7% on the day.
World stocks rose to their highest in just over a week on Thursday after a report on U.S. consumer prices calmed investor nerves about inflation and lifted the Dow Jones Industrial Average to a record close.
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