Friday, 5 August 2016

Asia stocks gain pound weakens on BoE easing, US jobs data awaited

Asian shares followed global stock markets higher on Friday after the Bank of England launched a larger-than-expected post-Brexit stimulus package that sent the British pound tumbling.

An overnight rally in crude oil prices also sharpened risk appetites, but some caution before the July U.S. non-farm payrolls report later on Friday limited gains.

MSCI's broadest index of Asia-Pacific shares outside Japan extended gains to 0.9 percent, headed for a 0.6 percent weekly gain. MSCI's world stocks index rose 0.1 percent on Friday.

Japan's Nikkei advanced 0.3 percent, on track for a loss of 1.6 percent for the week.

China's CSI 300 index climbed 0.1 percent, set to end the week flat. The Shanghai Composite was little changed, poised for a 0.1 percent weekly gain.

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