Asian share prices inched higher on Friday as economic stimulus around the world...
TOKYO - Asian share prices inched higher on Friday as economic stimulus around the world eased fears of economic deceleration while crude oil prices climbed on concerns that last weekend’s attacks on Saudi Arabia’s oil facilities still pose supply risks.
Monetary easing by the U.S. Federal Reserve this week and by the European Central Bank last week underpinned investor sentiment, while the latest U.S. economic data also eased worries about slowdown in the world’s largest economy. “There are hopes of an interim or partial trade deal between China as U.S. President Trump will need to shore up the economy next year before the election,” he added.
The New York Fed continued to inject a large amount of cash in money markets to deal with funding squeeze since the start of week, helping to bring down interest rates in the U.S. repo market, a key funding market. The Brazilian real fell 1.4% on Thursday to 4.167 to the dollar after the central bank slashed borrowing costs to an all-time low and signaled it was prepared to do so again in the coming months.
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