Asia stocks advance; dollar, oil recover from multi-month lows

Asia stocks advance; dollar, oil recover from multi-month lows

International News

Asian stocks rose on Thursday, taking their cues from a Wall Street bounce, while the dollar crawled up from a four-month low but remains clouded by concerns about US President Donald Trump’s pro-growth policies. Sterling was about 0.1 percent lower at USD 1.247 in early trade but had fallen as much as 0.4 percent on Wednesday, after an attack close to Britain’s Parliament killed five people, including the attacker and a police officer, and injured 40. Police said they believed the attacker was inspired by Islamist-related terrorism. Japan’s Nikkei gained 0.25 percent, thanks to a weaker yen. Overnight, the Nasdaq jumped 0.5 percent and the S&P 500 closed higher, while the Dow Jones Industrial Average was flat, after all three touched their lowest levels in about five weeks earlier in the session. “Investors with a lot of cash used yesterday’s downturn and the morning’s weakness today as a buying opportunity,” said Alan Lancz, president of investment advisory firm Alan B. Lancz & Associates in Toledo, Ohio. He said, however, that US stocks could slip again if Trump’s healthcare bill fails to progress. The dollar advanced 0.15 percent to 111.32 yen in early trade, after dropping to 110.71, its lowest since Nov. 22 overnight. The dollar index also recovered about 0.1 percent to 99.77, after touching a seven-week low overnight.