Rising optimism pushes Asia stocks to three year highs
Published on Jun 10, 2014 11:39 AM
TOKYO (REUTERS) - Asia stocks nudged three-year highs on Tuesday on rising optimism over global growth prospects and a record-run on Wall Street, helping lift Treasury yields and the dollar.
Monetary easing by the European Central Bank last week has brightened the mood for risky assets globally, with an upbeat U.S. nonfarm payrolls report released Friday giving further impetus.
On Wall Street overnight the S&P 500 ended at a fourth straight record closing high and the Dow at its third. There was muted market reaction to Chinese inflation data released earlier in the day, as it remained well within the governments' comfort zone.
China's consumer prices rose 2.5 percent in May from a year earlier while producer prices fell 1.4 percent. "No surprises again from May inflation data.
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