Asian shares edged higher on Monday as investors cheered a much-needed rebound i...
SYDNEY - Asian shares edged higher on Monday as investors cheered a much-needed rebound in U.S. payrolls, while looking forward to more policy stimulus in China.
MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.1 percent to hold just below its recent seven-month top. However, a test looms as major U.S. banks kick off what analysts expect to be the first quarter of contracting corporate earnings since 2016.Minutes of the Federal Reserve’s last policy meeting are due out on Wednesday.
“This data assuages both the downside and upside fears,” said Alan Ruskin, global head of G10 FX Strategy at Deutsche Bank. “Fears of soft growth are assuaged. On the upside, the wage data does not point to further acceleration that would threaten inflation.” The dollar held its recent gain on the Japanese yen at 111.68, but again needs to clear the March top of 112.12 to spark a true uptrend.
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