Asian shares were cautiously higher on Thursday, while the dollar eased ahead of U.S. non-farm payrolls data, and oil prices gained for a fourth day after deep production cuts pledged by OPEC+ members. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4% in early Asia trade, as U.S. futures gained.
Asian shares were cautiously higher on Thursday, while the dollar eased ahead of U.S. non-farm payrolls data, and oil prices gained for a fourth day after deep production cuts pledged by OPEC+ members. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4% in early Asia trade, as U.S. futures gained.
Japan's yen will recoup only a third of its big losses against the dollar in the coming year as the policy gap between the ultra-hawkish U.S. Federal Reserve and the extremely dovish Bank of Japan is set to widen further, a Reuters poll found. The policy divergence has battered the currency.
Major central banks are determined to clamp down on red-hot inflation, with Australia and New Zealand delivering further interest rate hikes this week. A smaller-than-anticipated rate hike in Australia has fuelled talk that global monetary tightening will slow as the growth outlook turns.
Major central banks are determined to clamp down on red-hot inflation, with Australia and New Zealand delivering further interest rate hikes this week. A smaller-than-anticipated rate hike in Australia has fuelled talk that global monetary tightening will slow as the growth outlook turns.
* HK shares surge almost 6%; HSBA, Tencent (TCTZF) rally. * Hungary's forint slips again, approaches record low. * Polish, Romanian cenbank decisions due later in day. * S.African cenbank says power cuts to hamper growth. By Susan Mathew.
Thailand's economy is still expected to grow 3.0% to 3.5% this year, while a weak baht is helping exports, the finance minister said on Wednesday, as the Thai currency hovered near its 16-year lows against the dollar. Exports, a key driver of Thai growth, are expected to rise 8% this year, Finance minister Arkhom Termpittayapaisith told a business seminar.
* Dollar rallies after sharp drop on Tuesday. * RBNZ raises policy rate 50 bps. * NZ move dims hopes of slowdown in rate rises globally. By Tom Westbrook and Harry Robertson. The dollar rose on Wednesday, a day after suffering its biggest one-day drop in more than two years, as the excitement of the previous day's rally in stocks and risk friendlier currencies wore off.
Asian stocks rose on Wednesday as investors grew hopeful future global interest rate rises might become less aggressive amid early signs previous policy tightening was working to temper price pressures in some major world economies. MSCI's broadest index of Asia-Pacific shares outside Japan was up 2.3%, after U.S. stocks ended the previous session with gains.
Singapore is likely to tighten monetary policy this month, the fifth time in a row, amid persistent inflation in the Asian financial hub due to global supply chain disruptions and a tight labour market.
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