A gauge of global stocks headed for the highest level in more than two months on Thursday and the dollar fell after Federal Reserve meeting minutes showed support for tapering interest-rate increases.
Japanese, South Korean and Hong Kong equities benchmarks advanced while mainland Chinese gauges fluctuated. US futures climbed after the S&P 500 closed at a two-month high Wednesday before the Thanksgiving holiday.
The moves in China came as investors weighed the impact of record Covid-19 cases against signs of loosening monetary conditions. Official comments broadcast Wednesday indicated the People’s Bank of China would allow banks to reduce capital reserves to stimulate growth.
China’s Covid-zero policy has had “a significant effect on consumption” while the property crisis is “affecting investment in the sector and affecting property developers,” Gita Gopinath, first deputy managing director for the International Monetary Fund, said in an interview with Bloomberg Television.
Government bond yields edged lower in Australia and New Zealand after Treasury yields fell Wednesday along with the dollar.
