Investors are taking heart from predictions that delta virus tensions and pandemic-related supply-chain shocks will provide only a temporary blow to the economic reopening. Central banks have also promised to gradually withdraw the stimulus
Dollar at one week low
The US greenback was near its lowest level in a week compared to major peers on Friday, as improved risk sentiment erased recent gains amid easing concerns about contagion from a potential China Evergrande Group default. The US dollar index, which measures the strength of the currency against a basket of six rivals, fell as low as 93.068 since Thursday, when it fell 0.36%, and hit its lowest level since September 17 at 92.977.
Asian stocks rally; US Fed’s stance makes investors optimistic
Asian shares were higher in early deals on Friday after their US peers were upbeat after the Federal Reserve avoided any surprise surprises in its policy statement and said it may soon start reducing its asset purchases. Is.
Investors are optimistic that the Federal Reserve’s reduction in stimulus shows confidence in a recovery from the pandemic.
The benchmark Nikkei 225 index was up 1.66% or 491.91 points at 30,131.31 while the broader Topix index was up 1.57% or 32.08 points at 2,075.63.
Australia’s S&P/ASX 200 index was flat, while South Korea’s Kospi rose 0.2%.
On Wall Street, the Dow Jones Industrial Average rose 506.5 points, or 1.48%, to 34,764.82, the S&P 500 rose 53.34 points, or 1.21%, to 4,448.98 and the Nasdaq Composite rose 155.40 points, or 1.04%, to 15,052.24.
Traders continue to monitor developments on the fate of troubled Chinese property giant Evergande.
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