Asian shares advance on easing inflation fears
Asian share markets recorded a positive performance on Friday, putting the region on course for its weekly gain. Investors’ enthusiasm could be attributed to easing inflation fears and the prospect of an early tapering of stimulus by the Federal Reserve.
MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.6%, while Japan’s benchmark index Nikkei traded 1% higher. Taiwan’s tech-heavy index stood as the biggest advancer with a 1.8% gain. Chinese blue chips, on the other hand, saw a 0.3% increase.
The series of increases across Asia came after Wall Street’s upbeat performance. Tech stocks surged after Treasury yields plunged on subdued business activity in the United States. In addition to this, falling commodity prices also undermined inflation prospects.