SYDNEY: Asian shares forged ahead on Tuesday while U.S. stock futures challenged a major chart barrier as investors looked past Sino-U.S. trade tensions to more stimulus in China and a re-opening world economy. Japan's Nikkei led the way with a rise of 2per cent to its highest since early March when the economic impact of the coronavirus was just becoming clear. MSCI's broadest index of Asia-Pacific shares outside Japan added 1.4per cent, while South Korea rose 1.1per cent. While Wall Street had been shut on Monday, E-Mini futures for the S&P 500 climbed 1.3per cent to test the 3,000 level. EUROSTOXX 50 futures added 0.6per cent and FTSE futures 1.8per cent. Chinese blue chips firmed 0.8per cent after the country's central bank said it would strengthen economic policy and continue to push to lower interest rates on loans. While largely reiterations of past comments, they helped offset the war of words between Washington and Beijing over trade, the coronavirus … [Read more...] about Japan shares hit 10-week peak, S&P 500 tests 3,000
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Sterling hits five-month peak above US$1.30
TOKYO: Sterling reached its highest in more than five months at US$1.3011 on Monday (Oct 21), as more investors rushed to cover short positions on signs that either Prime Minister Boris Johnson's Brexit deal would pass or the Oct 31 deadline would be pushed back. In any event, the risks of Britain exiting the European Union without agreeing a transition deal - a no-deal Brexit - now appear so small that more investors are buying both pounds and UK-focused equities. READ: British PM Johnson pushes for Brexit deal vote after being forced to seek delay Sterling had earlier pulled back half a per cent after parliament delayed a crucial Saturday vote on Johnson's Brexit deal on Saturday. But the currency held most of the 6 per cent gain chalked up since Oct 10. Johnson could now pass the deal by either winning a "meaningful vote" on Monday - if the lower house speaker allows a vote to go ahead - or by securing a majority when the Withdrawal Agreement Bill is introduced on Tuesday. … [Read more...] about Sterling hits five-month peak above US$1.30