By Lisa Twaronite and Nichola Saminather TOKYO/SINGAPORE (Reuters) - Asian shares advanced on Thursday, while the euro remained under pressure on growing bets that the European Central Bank will roll out more stimulus soon even as the U.S. Federal Reserve looks set to raise interest rates. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.6 percent, after Wall Street put in a nearly flat performance ahead of the U.S. Thanksgiving holiday. Japan's Nikkei added 0.6 percent.
Chinese energy firms rallied in Hong Kong on Thursday following the latest moves to reform the country's bloated state-owned enterprises, leading an Asian stock market advance. Another broadly upbeat batch of data on the US economy also provided some support on regional trading floors, while tensions over Turkey's shooting down of a Russian fighter jet also eased slightly. The moves come as China looks to overhaul its bloated SOEs in a drive to make them more efficient as President Xi Jinping looks to reform the world's number two economy, which is suffering a painful growth slowdown.
By Rodrigo Campos and Dion Rabouin NEW YORK (Reuters) - The U.S. dollar gained and the euro briefly hit a seven-month low on Wednesday in a volatile session on views the European Central Bank will ease monetary policy further, including buying more debt and charging banks for hoarding cash. U.S. Treasury debt prices were supported by record low yields for German government bonds and data that underscored the view of muted domestic inflation.
"The news this morning was a little better than worse, so the market went up," said Peter Costa, president of Empire Executions Inc, citing mixed economic data. The Dow Jones industrial average rose 1.2 points, or 0.01 percent, to 17,813.39, the S&P 500 lost 0.27 points, or 0.01 percent, to 2,088.87 and the Nasdaq Composite added 13.34 points, or 0.26 percent, to 5,116.14.
Quote of the Day
If one advances confidently in the direction of his dreams, and endeavors to live the life which he has imagined, he will meet with a success unexpected in common hours. - Henry David Thoreau