Asian index futures foreshadowed another day of gains for the region’s stocks, with global equities on track for their best week since 2012 amid a bounce back in oil. No such luck for the dollar, which is languishing near a three-week low versus major peers after minutes of the Federal Reserve’s last meeting showed officials discussed how the currency’s strength was damping inflation and that growing global risks spurred them to stand pat on hiking interest rates in September. Copper futures rallied.
The S&P/ASX 200 Index gained 0.6 percent at the open in Sydney, set for a weekly climb of 3.7 percent, while New Zealand’s S&P/NZX 50 Index, the first major stock index to start trading each day in the Asian region, climbed 0.6 percent, headed for a 1.2 percent advance in the week.
Nikkei 225 Stock Average futures were up 0.8 percent to 18,250 in the Osaka pre-market.
Futures on the Hang Seng and Hang Seng China Enterprises indexes in Hong Kong rose at least 0.3 percent. Chinese markets resumed trading Thursday for the first time in a week, with the Shanghai Composite Index’s 3 percent advance underwhelming investors who had seen the Enterprises gauge, which tracks mainland stocks listed in Hong Kong, climb 11 percent in the period China was out.
While FTSE China A50 Index futures rose 0.8 percent in recent trade, the biggest U.S. exchange-traded fund tracking Chinese shares fell Thursday in New York, dropping 1.3 percent from a seven-week high as slowdown concerns reasserted themselves.
Markets in Taiwan and South Korea are closed for holidays Friday, with Australian home loan data due and the Philippines due to report on exports. Thailand will update on its foreign reserves.
Source : Bloomberg