Asian markets head higher on Friday
|Asian markets were heading higher on Friday, led by South Korean Kospi, surging at 2’451 (+1.54%), followed by Hong Kong Hang Seng valued at 31’290 (+1.05%) and Japanese Topix increasing at 1’760 (+0.82%) while Nikkei 225 closed the day at 21’893 (+0.72%), supported by Energy (+2.98%), Real Estate (+1.84%), Materials (+1.50%) and Utilities (+1.35%) due to higher oil-related stocks performance after oil price overnight gains (JXTG Holding +3.64%, Showa Shell Sekiyu +2.88% and Inpex +2.39%).
On economic data side Japan’s January Core Consumer Price Index Y/Y rose by 0.90% (consensus: 0.80% - M/M basis: 0.10%), in line with previous month and confirming the view of a rather slow headline inflation rate.
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US treasury yields decrease, as the 10-year and 2-year are given at 2.9080 (-1.55%) and 2.2420 (-1.07%), despite Fed’s minute on Wednesday that maintained the stance of improving economic conditions and confirming more rate hikes for the coming year. US Equities remained stable on Thursday: Dow Jones Industrial Average, S&P500 and Nasdaq were closing at 24’962 (+0.66%), 2’704 (+0.1) and 7’210 (-0.11%).
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