Asian stocks were steady on Wednesday after strong U.S. housing data lifted Wall Street shares, helping nudge Treasury yields higher and keeping the dollar well bid against the euro and yen.
Global equities have attracted funds in recent sessions on expectations major central banks, including the U.S. Federal Reserve, will continue to retain their easy money policies for a while.
Tokyo’s Nikkei gained. 0.2 percent and South Korea shares rose 0.4 percent. MSCI’s broadest index of Asia-Pacific shares outside Japan was flat Wall Street drew support from robust housing data on Tuesday, which pushed up Treasury yields and drove the dollar to a nine-month high against the euro.
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