Asian Stocks Head for the Best Week Since February

Asian stocks rallied after their U.S. counterparts gained amid relief the latest reading on American inflation suggested less need for the Federal Reserve to accelerate monetary tightening. The dollar steadied after dropping the most since March.

The MSCI Asia Pacific Index is heading for its best week since February thanks to easing investor concerns that higher U.S. yields and a stronger dollar would spur broad contagion. Equity benchmarks advanced across most of the region, with JapanA?a��a�?s Topix heading for its highest close in 10 weeks. Malaysian assets trading offshore began to stabilize after the shock election win for the opposition. Ten-year Treasury yields held below 3 percent.

The MSCI Asia Pacific Index is heading for a weekly gain of 1.7 percent, and the MSCI Emerging Markets Index is heading for a 2.4 percent advance on the week. The Kospi advanced 0.6 percent.AustraliaA?a��a�?s S&P/ASX 200 was up 0.3 percent.

Source: Bloomberg

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European stocks close lower after US 10-year yield hits 3 percent for first time since 2014

European stocks closed mixed on Tuesday, as investors monitored bond yields and the latest deluge of corporate earnings.

The pan-European Stoxx 600 closed slighty lower at 383.11, with most sectors and major bourses in negative territory.

Travel and leisure stocks were the worst performers, down 1.4 percent. The sector was dragged lower by William Hill, after the U.K. Treasury said it planned to support a proposed cut in the maximum bet for fixed odds betting terminals. Shares of the U.K. firm tanked 12.7 percent on the news.

The yield on the U.S. 10-year Treasury note, the world’s most important bond market indicator, hit 3 percent for the first time since January 2014. Investors have been selling Treasurys in April A?a��a�? consequently pushing yields up A?a��a�? amid beliefs of rising inflation, which may encourage the U.S. central bank to tighten monetary policy more rapidly.

Source: CNBC

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Stocks post best day since 2015 on waning trade concerns; Microsoft soars

U.S. stocks closed sharply higher on Monday, with major indexes posting their best day in years as concerns about a potential trade war between China and the United States appeared to wane.

The Dow Jones Industrial Average closed up 671 points, or 2.9%, to 24,204. The S&P 500 gained 70 points to 2,659, a gain of 2.7%. The Nasdaq Composite Index climbed 228 points, or 3.3%, to 7,221.

All three posted their biggest one-day percentage advance since August 2015. The day’s gains were broad-based, with all 11 S&P 500 sectors ending in positive territory and six of them climbing more than 2% on the day.

The biggest gainer of the day by far was the technology sector, which surged 4.1%, a rally that also represented its best single session since August 2015. The sector was largely supported by Microsoft Corp. which jumped 7.6% in its best session since October 2015.

Source: Marketwatch

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