Asian stocks rose strongly on Friday, extending a global equity rally, after better-than-expected Chinese economic data added to the good vibes from expectations that tightening campaigns by the world’s biggest central banks were close to over.
The dollar stuck close to a six-month peak from overnight against major peers, buoyed by robust U.S. economic data, while the euro sagged following the European Central Bank’s signal that Thursday’s rate hike was probably the last this cycle.
Crude oil hit a fresh 10-month top. MSCI’s broadest index of Asia-Pacific shares (.MIAP00000PUS) rallied 0.79%.
Read the full story on Reuters here.