Asian shares advance on stimulus optimism, dollar declines
TOKYO- Asian stocks recorded a well-ended performance on Friday as investors anticipated another set of stimulus measures to alleviate the drag brought by the novel coronavirus pandemic. Upbeat market mood followed after US unemployment statistics jumped at record-high.
MSCI’S broadest index of Asia-Pacific shares outside Japan inched up by 1.2%. Australian shares shed 1.09% and Japanese benchmark index Nikkei added 1.44% earnings.
S&P 500 E-Mini futures swung bearish and dropped 0.95% in Asian trading board after recording three consecutive days of upbeat activity in S&P 500 on Wall Street.
The US greenback lost against basket of other currencies as central banks’ measure for dollar liquidity in funding markets started to gain traction.
The US House of Representatives is set to pass a legislation about 42 trillion stimulus package on Friday. Such is expected to fill world’s biggest economy with finances to aid the disruptions caused by the novel coronavirus contagion.