MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.53% to almost nine-month highs of 561.99. The index, which fell nearly 20% last year, is up about 11% in the month and is on course for its best ever January performance. Japan’s Nikkei rose 0.20%.
Reuters
January 27, 2023 / 07:36 AM IST
Asian markets
Asian stocks rose on Friday and were poised for their fifth straight week of gains after a set of data highlighted a resilient U.S. economy, lifting investor sentiment ahead of next week’s slate of central bank monetary policy meetings.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.53% to almost nine-month highs of 561.99. The index, which fell nearly 20% last year, is up about 11% in the month and is on course for its best ever January performance. Japan’s Nikkei rose 0.20%.
Hong Kong’s Hang Seng Index opened 0.2% higher after surging more than 2% on Thursday. Mainland China markets are due to resume on Monday after the Lunar New Year holiday.
The U.S. economy grew faster than expected in the fourth quarter as consumers boosted spending on goods, data showed, but it could be the last quarter of solid GDP growth before the lagged effects of the Federal Reserve’s jumbo interest rate hikes are fully felt.
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