SINGAPORE, Oct 27(ABC): Asian shares rose on Thursday on growing expectations that major central banks could start slowing th pace of interest rate hikes in coming months, while the dollar’s retreat lifted commodities and pushed treasury yields lower.
MSCI’s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) was 1.59% higher and set for third straight session of gains. The index is down roughly 2% for the month.
Australia’s resources-heavy share index (.AXJO) advanced 0.81%, while Japan’s Nikkei (.N225) opened 0.09% lower.
China’s stock market (.SSEC) opened 0.1% higher on Friday, with Hong Kong’s Hang Seng Index (.HIS) up 2.6% at the open.
China stocks have had a turbulent week, headlined by Monday’s brutal selloff as global investors dumped Chinese assets, worried that President Xi Jinping’s new leadership team would put ideology before the economy.
