Asia Stocks Edge Up As U.S. Earnings prop up Wall Street

Asian stocks edged up on Thursday as robust corporate earnings helped Wall Street quell concerns over a surge in U.S. bond yields, while the dollar hovered near three-month highs against a basket of currencies. MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.09 percent. Australian stocks were flat and Japan’s Nikkei rose 0.4 percent. South Korea’s KOSPI climbed 0.5 percent.

The Dow rose 0.25 percent overnight, ending a five-day losing streak, and the S&P 500 gained 0.18 percent on optimism over a spate of upbeat earnings that managed to offset jitters over rising U.S. bond yields.

The spike to a four-year peak above 3 percent in the 10-year U.S. Treasury yield this week – a benchmark for global borrowing costs – had weighed on stocks amid concerns rising corporate borrowing costs could dampen profits. For More Information Please Visit : www.paceresearchindia.com and Call : 8817774774