FSM News

Shares in Asia gained to their highest levels in more than four months on Thursday, while regional currencies dropped as hopes elevated that more central banks will join the city state in easing monetary policy in the coming months.

Morgan Stanley’s Capital International’s broadest index of Asia Pacific shares outside Japan surged 0.5 percent, hitting its highest level since November 26. It has gained 5 percent since Friday, breaking above some resistance levels to indicate further gains.

As stated by a currency strategist, “Its very interesting, and eye-catching, that the MAS have gone back to post-global financial crisis settings, and sends a strong message about the weak external environment.”

Japan’s Nikkei 225 Stock Average soared 3.23 percent, while the Shanghai Composite Index inched up 0.06 percent, and the Standard & Poor ASX 200 elevated 1.19 percent.

Meanwhile, United States shares were slightly changed as market players assessed quarterly earnings from huge banks, which economic data suggested strength in the labor market.

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Bank of America shares slipped 1 percent in premarket trading after the banks indicated lower quarterly earnings.

Upon the release of results, JPMorgan surpassed lowered expectations for first quarter profit and revenue.

According to an analyst, “Were looking at a flattish kind of market that is looking to grasp a positive theme and the banks havent delivered this morning.”

Dow Jones Industrial Average surged 27 points or 0.15 percent, with 27,047 contracts changing hands, while Standard & Poor’s 500 climbed 2.5 points or 0.12 percent, as 237,464 contracts traded. NASDAQ 100 also jumped 3.5 points or 0.08 percent, to 21,442.

On the other hand, European stocks were flat on early trading as market players digest bumper gains so far this week.

London’s benchmark Financial Times Stock Exchange 100 index slumped 0.3 percent to 6,342.93 points, before an interest rate decision from the Bank of England.

In the euro zone, German DAX 30 index edged 0.2 percent higher to 10,042.28 points, while the French CAC 40 dropped 0.1 percent to 4,487.22 compared to the previous session’s closing levels.