Tuesday, 6 December 2016

Asian stocks rise on back of Wall Street

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Asian stocks opened higher on the back of a strong Wall Street with markets discounting the potential impact of Italy's referendum vote, while US Treasury yields firmed as robust economic data pointed to an interest rate hike next week. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4 percent in early trade with Antipodeans markets leading gains. Korea climbed 1 percent in opening trades. 

Wall Street rose on Monday, with the Dow Jones industrials setting fresh record highs following services sector data that showed further strength in the domestic economy. US services sector activity hit a one-year high in November, with a surge in production boosting hiring, following on the heels of Friday's employment report that showed strong job gains last month.

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