Asian Equities Higher as Risk Aversion Wanes

Asian stocks edged up on Wednesday as risk aversion triggered by recent geopolitical tensions continued to ebb, while the Australian dollar spiked on stronger-than-expected inflation data.

Violence continued in Gaza, but hopes rose for an easing of tension in Ukraine after pro-Russian rebels handed the flight recorders and victims’ remains from a downed Malaysian airliner to international authorities.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.7 percent, lifted after the S&P 500 hit a new high overnight as risk markets turned their attention to positive corporate earnings and economic data.

Reuters

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