Asia stocks reach 10-year peak

Federal Reserve showed a more guarded view towards inflation

Asian stocks reached a 10-year high on Thursday, riding the bull run in global equity markets, while the dollar sagged after the Federal Reserve showed a more guarded view towards inflation. Spreadbetters expected a mixed start for European stocks, forecasting Britain’s FTSE to open down 0.05 percent, Germany’s DAX to start 0.03 percent higher France’s CAC to open flat. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.55 percent and at its highest since December 2007.

Japan’s Nikkei was up 0.4 percent after brushing 20,994.40, its highest since November 1996. South Korea’s KOSPI added 0.55 percent to mark a fresh record peak and Hong Kong’s Hang Seng scaled a decade-high. Asia took cues from Wall Street, where major indexes rose to yet another set of record closing highs overnight following a report that a market-friendly candidate was being pushed as successor to Janet Yellen at the helm of the Fed.

http://www.reuters.com…  Thu.,  12  October 2017