Wednesday, 23 November 2016

Asia stocks try to share Wall Street joy, US yields a burden

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Asian stocks crept to one-week highs on Wednesday as investors tried to share in the exuberance of Wall Street, where the three main indices seized record peaks for a second straight session. Australia's main index led the early action with a rise of 0.5 percent to a one-month top, helped by strength in bulk commodity prices. Japan's Nikkei was closed for a holiday after enjoying a five-session winning streak that took it to the highest finish since January. 


MSCI's broadest index of Asia-Pacific shares outside Japan also added 0.3 percent, edging further away from four-month lows hit on Monday. Emerging market shares have struggled in recent days as surging US bond yields sucked much-needed capital out of Asia. President-elect Donald Trump's past talk of trade tariffs has also weighed on sentiment in the export-intensive region.

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