SINGAPORE : Asian shares rose to a near four-month high on Friday as resilient U.S. economic data stoked expectations that the Federal Reserve is near the end of its rate-hike campaign, with investor focus switching to the Bank of Japan's policy meeting. MSCI's broadest index of Asia-Pacific shares ou
SINGAPORE : Asian shares rose to a near four-month high on Friday as resilient U.S. economic data stoked expectations that the Federal Reserve is near the end of its rate-hike campaign, with investor focus switching to the Bank of Japan's policy meeting.
The BOJ rounds up a central bank heavy week, with broad expectations that the central bank will stick with its ultra-loose monetary policy even as inflation ticks higher. On Friday, China's benchmark CSI 300 Index was 0.3 per cent higher while Hong Kong's Hang Seng Index gained 0.4 per cent. The slew of data helped firm up bets that the Fed would not follow through with more rate hikes as the central bank hinted on Wednesday when it left interest rates unchanged.
" Lagarde insisted that there was more ground to cover, but the overall tone of the press conference suggested that there might not be a whole lot more to do, despite the upgrade to the inflation forecast," strategists from NatWest Markets said in a note.
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