Asian Stocks Push Higher While Currencies and Copper Slips

Asian stocks rose, with Japanese shares driving the regional index to its longest rally this year, as the yen traded near a two-month low before a review of euro-area monetary policy and U.S. payrolls data. South Korea’s won snapped a six-day gain as copper and oil fell.

The MSCI Asia Pacific Index added 0.1 percent by 9:45 a.m. in Tokyo, rising a seventh day in the longest run of gains since December. Japan’s Topix index rose 0.4 percent. Standard & Poor’s 500 Index (SPX) futures fell 0.1 percent after the gauge rose a fourth day, extending its record. The yen was at 103.87 a dollar after five days of weakness, while the won slipped with the Malaysian ringgit. Copper led industrial metals from nickel to zinc lower while crude oil fell a fourth day.

The European Central Bank is projected to keep interest rates at a record low when it meets today, and service industries will be in focus with March data from China to India and the U.S. scheduled. The weekly report on U.S. jobless claims is due as investors weigh private data showing an increase in employment last month before tomorrow’s official payrolls report. China announced measures to support growth yesterday, including increased railway spending and tax relief.


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Mingze Wu

Mingze Wu

Currency Analyst at Market Pulse
Based in Singapore, Mingze Wu focuses on trading strategies and technical and fundamental analysis of major currency pairs. He has extensive trading experience across different asset classes and is well-versed in global market fundamentals. In addition to contributing articles to MarketPulseFX, Mingze centers on forex and macro-economic trends impacting the Asia Pacific region.
Mingze Wu