SYDNEY, Dec 15 (Reuters): Asian shares jumped to a four-month peak on Friday as sharp declines in the dollar and US yields extended a Federal Reserve-fuelled rally, but pushback on rate cuts from central banks in Europe could deal a blow to the global pivot hopes.
The MSCI's broadest index of Asia-Pacific shares outside Japan was last up 0.9 per cent after an earlier rally to the highest since early August met some resistance due to a turnaround in Chinese shares. It is up a solid 2.8 per cent for the week. Japan's Nikkei rose 1 per cent.
Chinese bluechips gave up earlier gains to be 0.3 per cent lower and hit a fresh five-year trough. Hong Kong's Hang Seng index, however, rebounded 2.2 per cent, driven by a more than 3 per cent jump in Chinese real estate firms on news that Beijing and Shanghai have relaxed home purchase restrictions.
Asian shares race to four-month peak
FE Team | Published: December 16, 2023 00:25:59
Asian shares race to four-month peak
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