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Asian shares advance on earnings optimism, yen slips to four-year low
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moneycontrol.comAsian shares advanced and United States long-dated bond yields edged up to a five-month high on October 20 on rising optimism about the global economy and corporate earnings while the yen slipped to a four-year low on the dollar.
Japan's Nikkei rose 0.8 percent while MSCI's broadest index of Asia-Pacific shares outside Japan added 0.3 percent, led by 0.9 percent gains in Australia.
"Earlier this month, stagflation was the buzzword on Wall Street. But now excessive pessimism is receding, especially after strong US retail sales data on Friday," said Norihiro Fujito, chief investment strategist at Mitsubishi UFJ Morgan Stanley Securities.
In New York, the benchmark S&P 500 index gained 0.74 percent to finish just 0.4 percent below its early
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