Global Stocks Up as Investors Hopeful Britain Will Vote To Stay in EU
SINGAPORE/TOKYO (Reuters) - Asian stocks edged up on Wednesday as investors were guardedly optimistic about a "Remain” vote in Britain’s make-or-break European Union referendum, while Federal Reserve Chair Janet Yellen’s cautious tone virtually ruled out a July rate hike.
European markets were also poised for a positive start, with financial spread better CMC Markets expecting Britain’s FTSE to gain 0.4 percent, France’s CAC 0.5 percent and Germany’s DAX 0.7 percent.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.4 percent. Japan’s Nikkei trimmed its losses to 0.6 percent.
China’s CSI 300 index and the Shanghai Composite both advanced about 0.4 percent, while Hong Kong’s Hang Seng reversed earlier losses to climb 0.5 percent.
On Wall Street, U.S. S&P 500 Index gained 0.27 percent but was still below an 11-month high touched earlier this month.
Fed chief Yellen said on Tuesday the central bank’s ability to raise interest rates this year may hinge on a rebound in hiring that would convince policymakers the U.S. economy isn’t faltering.
The dollar slipped 0.2 percent against the yen to 104.57 yen, after a brief rally to 105.065 overnight as Yellen expressed general optimism about the U.S. economy.
European markets were also poised for a positive start, with financial spread better CMC Markets expecting Britain’s FTSE to gain 0.4 percent, France’s CAC 0.5 percent and Germany’s DAX 0.7 percent.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.4 percent. Japan’s Nikkei trimmed its losses to 0.6 percent.
China’s CSI 300 index and the Shanghai Composite both advanced about 0.4 percent, while Hong Kong’s Hang Seng reversed earlier losses to climb 0.5 percent.
On Wall Street, U.S. S&P 500 Index gained 0.27 percent but was still below an 11-month high touched earlier this month.
Fed chief Yellen said on Tuesday the central bank’s ability to raise interest rates this year may hinge on a rebound in hiring that would convince policymakers the U.S. economy isn’t faltering.
The dollar slipped 0.2 percent against the yen to 104.57 yen, after a brief rally to 105.065 overnight as Yellen expressed general optimism about the U.S. economy.