Tokyo, June 1 (BNA): Most stock markets in the Asia-Pacific region rose on Thursday amid diminishing bets of a US interest rate hike this month and a softening of the US House of Representatives’ passage of a bill to suspend the federal debt ceiling.
A sudden swing in growth in Chinese factory activity also boosted sentiment, in a rare positive sign recently of the country’s post-pandemic recovery. Reuters reported that crude oil prices have returned from their lowest levels in four weeks.
The dollar fell to a one-week low against the yen and stalled near a more than two-month low against the euro after Federal Reserve officials, including governor and vice-presidential nominee Philip Jefferson, signaled they would “skip” a rate hike at a policy meeting from 13 to 14 June. Treasury yields rose from nearly two weeks ago on the plains.
MSCI’s broadest index of Asia-Pacific shares rose 0.82%, rebounding after touching the lowest since March 22 in the previous session.
Japan’s Nikkei rose 0.77%, while Hong Kong’s Hang Seng rose 1.07% and blue-chip stocks in mainland China advanced 0.71%.
ZHB