Asian shares rose to a fresh 2-1/2-month high on Thursday, supported by
sound economic fundamentals, while expectations the European Central
Bank (ECB) could start to wind down its stimulus boosted the euro and
global bond yields.
MSCI's broadest index of Asia-Pacific shares outside Japan
.MIAPJ0000PUS advanced 0.4 percent to extend its gains, hitting a
2-1/2-month high for a second straight day. Japan's Nikkei average .N225 rose 0.8 percent.
Notable gainers include the technology-heavy Taiwanese stocks, with Taiwan's main index .TWII nearing the 27-year high of 11,270 hit on January 23. The index has rallied 4.25 percent since last Wednesday, boosted by the rally in tech stocks and the Nasdaq.
The euro EUR= held near a two-week high while Germany's benchmark 10-year bond DE10YT=TWEB hit its own two-week high of 0.486 percent growing conviction the European Central Bank would announce as early as next week its intention to end a drawn-out stimulus programme by year-end.
ECB Chief Economist Peter Praet said on Wednesday that robust growth made the central bank increasingly confident that inflation is on its way back to target, raising the chances it may use next week’s meeting next week to reveal more about the end of its bond-buying program.
Praet's comments sent the euro to $1.1796 EUR=, its highest level since May 22, on Wednesday. The common currency last traded up 0.1 percent at $1.1789. The dollar index .DXY was down 0.1 percent to 93.525.
Higher yields helped to lift S&P 500 financials .SPSY, which rose 1.8 percent and were the biggest percentage gainer among S&P 500 sectors.
Notable gainers include the technology-heavy Taiwanese stocks, with Taiwan's main index .TWII nearing the 27-year high of 11,270 hit on January 23. The index has rallied 4.25 percent since last Wednesday, boosted by the rally in tech stocks and the Nasdaq.
The euro EUR= held near a two-week high while Germany's benchmark 10-year bond DE10YT=TWEB hit its own two-week high of 0.486 percent growing conviction the European Central Bank would announce as early as next week its intention to end a drawn-out stimulus programme by year-end.
ECB Chief Economist Peter Praet said on Wednesday that robust growth made the central bank increasingly confident that inflation is on its way back to target, raising the chances it may use next week’s meeting next week to reveal more about the end of its bond-buying program.
Praet's comments sent the euro to $1.1796 EUR=, its highest level since May 22, on Wednesday. The common currency last traded up 0.1 percent at $1.1789. The dollar index .DXY was down 0.1 percent to 93.525.
Higher yields helped to lift S&P 500 financials .SPSY, which rose 1.8 percent and were the biggest percentage gainer among S&P 500 sectors.
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