Global stocks hover near peaks on dwindling U.S. inflation fears
Global share markets placed near their record peaks on Friday as receding inflation concerns in the United States fueled investors’ enthusiasm. This, in turn, heavily dragged bond yields and sent Wall Street to high grounds.
MSCI’s broadest index of global stocks tallied a record peak during its early Asian session. Shares across Asia were seen upbeat, with Japan’s Topix gaining 0.6%. Australian shares hovered below their historic one-year top, while South Korea’s Kospi secured its strongest intraday performance since mid-February.
Chinese shares, on the other hand, bucked the upswing as the CSI 300 declined 1.3%. Bond yields also dropped as a batch of U.S. economic figures brought in inflation concerns. Despite expectations for higher policy rates, Fed Chair Jerome Powell restated the central bank’s decision of maintaining its accommodative stance.