AFP, Hong Kong :
Asian markets mostly rose again on Thursday, boosted by another record performance on Wall Street with confidence high heading into the earnings season.
The euro also managed to hold its gains against the greenback as hopes for a resolution to the Catalan crisis in Spain trump expectations the Federal Reserve will hike interest rates for a third time this year in December.
While US-North Korea tensions rumble on in the background, trading floors remain positive following a series of upbeat readings across global economies that have helped equities hit multi-year highs.
In New York all three main indexes chalked up yet more records following strong corporate reports, while analysts said the mood was also improved by the small number of firms warning they expected a negative impact from hurricanes Harvey, Irma and Maria.
The gains in New York provided a solid platform for Asian traders.
Tokyo’s Nikkei closed up 0.4 percent to a fresh 21-year high, while Sydney added 0.4 percent and Hong Kong 0.4 percent higher in the afternoon. Singapore was up 0.7 percent.
Seoul gained 0.7 percent, with Wellington, Taipei, Manila and Jakarta also well up. However, Shanghai finished down 0.1 percent.
In early European trade London and Paris each lost 0.1 percent but Frankfurt added 0.1 percent.
Shane Chanel, equities and derivatives adviser at ASR Wealth Advisers, said the recent passage of a US budget bill had left him confident that Donald Trump would be able to push through key tax and spending plans, which would give a further lift to markets.
“The question is not if, but when,” he said in a note. “I believe that the tax reforms and planned infrastructure spend are going to be the biggest catalysts for inflation and jobs growth in the US.”
On foreign exchanges the euro built on gains after Catalan leader Carles Puigdemont adopted a more conciliatory tone in a speech on independence. The unit was at $1.1873 Thursday, up from the low $1.17 mark seen last week, though well off the $1.2033 enjoyed in September.
Asian markets mostly rose again on Thursday, boosted by another record performance on Wall Street with confidence high heading into the earnings season.
The euro also managed to hold its gains against the greenback as hopes for a resolution to the Catalan crisis in Spain trump expectations the Federal Reserve will hike interest rates for a third time this year in December.
While US-North Korea tensions rumble on in the background, trading floors remain positive following a series of upbeat readings across global economies that have helped equities hit multi-year highs.
In New York all three main indexes chalked up yet more records following strong corporate reports, while analysts said the mood was also improved by the small number of firms warning they expected a negative impact from hurricanes Harvey, Irma and Maria.
The gains in New York provided a solid platform for Asian traders.
Tokyo’s Nikkei closed up 0.4 percent to a fresh 21-year high, while Sydney added 0.4 percent and Hong Kong 0.4 percent higher in the afternoon. Singapore was up 0.7 percent.
Seoul gained 0.7 percent, with Wellington, Taipei, Manila and Jakarta also well up. However, Shanghai finished down 0.1 percent.
In early European trade London and Paris each lost 0.1 percent but Frankfurt added 0.1 percent.
Shane Chanel, equities and derivatives adviser at ASR Wealth Advisers, said the recent passage of a US budget bill had left him confident that Donald Trump would be able to push through key tax and spending plans, which would give a further lift to markets.
“The question is not if, but when,” he said in a note. “I believe that the tax reforms and planned infrastructure spend are going to be the biggest catalysts for inflation and jobs growth in the US.”
On foreign exchanges the euro built on gains after Catalan leader Carles Puigdemont adopted a more conciliatory tone in a speech on independence. The unit was at $1.1873 Thursday, up from the low $1.17 mark seen last week, though well off the $1.2033 enjoyed in September.
