Asia shares buoyed by Trump's China comments, yen awaits BOJ
NEW YORK/SINGAPORE - Global shares rose on Friday buoyed by the prospect of lower US interest rates and a US-China trade deal following comments from President Donald Trump , while the yen steadied ahead of a widely expected hike from the Bank of Japan.
"No politician advocates for higher rates and he has always put himself out there as a low rates guy," said Prashant Newnaha, a senior Asia-Pacific rates strategist at TD Securities. "Expect the president to become more vocal and critical of the Fed." Those comments sent China's CSI300 blue-chip index 0.6% and Hong Kong's Hang Seng index 1.7% higher. The Australian and New Zealand dollars, as well as the yuan, rose on signs of a softer stance on tariffs from Trump.
Markets have already fully priced in a 25-basis-point rate hike from the BOJ that would take rates in Japan to their highest since the 2008 global financial crisis.
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