Monday, 9 January 2017

Asia bounce on US cues though dollar gains may clip wings

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Asian stocks edged higher on Monday, helped by a strong Wall Street, and the dollar stood tall against rivals after the latest US payrolls data indicated strong underlying wage growth, strengthening the case for more rate increases in 2017. Underlying sentiment was increasingly cautious as investors grew wary of the corrosive effects of a stronger greenback on some Asian markets such as Hong Kong and before a news conference by President-elect Donald Trump on Wednesday where his views on global trade and China will be carefully scrutinized for future policy implications.

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