Asian stocks advanced, with the regional benchmark index on course for its highest close in six years, as investors bet rising tensions in Ukraine over the shooting down of a jetliner won’t curb global economic growth.
Aluminum Corp. of China Ltd., the nation’s biggest producer of the metal, jumped 6.2 percent as mainland stocks listed in Hong Kong led gains. All 10 industry groups on the regional gauge rose. Kangwon Land Inc., a South Korean casino and hotel services provider, surged 4.2 percent. Oriental Land Co. slipped 1.6 percent after the Nikkei reported profit at the operator of Tokyo’s Disney resort will fall.
The MSCI Asia Pacific Index (MXAP) gained 0.6 percent to 147.75 as of 2:19 p.m. in Hong Kong, set for the highest close since June 2008. More than two shares climbed for each that fell. European Union foreign ministers meet today over whether to extend penalties against Russia amid outrage over the downing of Malaysia Airlines flight MH17 over Ukraine.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities.
Opinions are the authors — not necessarily OANDA’s, its officers or directors. OANDA’s Terms of Use and Privacy Policy apply. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Recommended Content
Editors’ Picks
AUD/USD eases toward 0.6500 after mixed Australian trade data
AUD/USD is seeing some fresh selling interest in the Asian session on Thursday, following the release of mixed Australian trade data. The pair has stalled its recovery mode, as the US Dollar attempts a bounce after the Fed-led sell-off.
USD/JPY holds rebound near 156.00 after probable Japan's intervention-led crash
USD/JPY consolidates the rebound near 156.00, having lost nearly 450 pips in some minutes after the Japanese Yen rallied hard on another suspected Japan FX market intervention in the late American session on Wednesday.
Gold price struggles for a firm intraday direction, hover above $2,300
Gold price fails to lure buyers amid a fresh leg up in the US bond yields, modest USD uptick. A positive risk tone also contributes to capping the upside for the safe-haven precious metal. Traders, however, might prefer to wait for the US NFP report before placing aggressive bets.
Top 3 Price Prediction BTC, ETH, XRP: Altcoins to pump once BTC bottoms out, slow grind up for now
Bitcoin reclaiming above $59,200 would hint that BTC has already bottomed out, setting the tone for a run north. Ethereum holding above $2,900 keeps a bullish reversal pattern viable despite falling momentum. Ripple coils up for a move north as XRP bulls defend $0.5000.
The FOMC whipsaw and more Yen intervention in focus
Market participants clung to every word uttered by Chair Powell as risk assets whipped around in a frenetic fashion during the afternoon US trading session.