Asian stocks climbed to nine-month highs on Thursday, helped by a pickup in capital inflows and a recovery in global oil prices, while the dollar stood strong on growing bets of a U.S. rate increase as early as September.
MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.3 percent, its highest level since October 2015 after earnings overnight helped push both the Dow Jones industrial average and the S&P 500 to record highs. It has gained 10 percent over the last month.
"Investors are optimistic on the outlook for Asian equities compared to developed markets and despite the looming geopolitical uncertainty so we are advising clients to buy on dips," said a markets strategist at a U.S. bank in Hong Kong
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MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.3 percent, its highest level since October 2015 after earnings overnight helped push both the Dow Jones industrial average and the S&P 500 to record highs. It has gained 10 percent over the last month.
"Investors are optimistic on the outlook for Asian equities compared to developed markets and despite the looming geopolitical uncertainty so we are advising clients to buy on dips," said a markets strategist at a U.S. bank in Hong Kong
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