Asian Stocks Rise as the Dollar Declines and China Recovers – Asia Market Wrap

Asian shares rose, boosted by some promising indicators in China’s economy and a decline in the Dollar.

The MSCI Asia Pacific Index climbed 0.4%, its first rise this week, after statistics showed China’s retail sales increased at their fastest rate in eight months and property values declined at a slower rate. Japanese benchmarks rose nearly 0.8%, helped by the Yen’s depreciation. US contracts have fallen.

A Dollar index ended a five-day rally aided by Fed Chair Powell’s remarks that the central bank will not be in a hurry to lower interest rates. Friday’s action provides a nice relief for emerging market assets, which had been sold off for most of the week due to Trump’s cabinet appointments and concerns about China’s recovery.

US two-year rates were barely changed after rising the previous session as traders reduced their expectations for an interest rate drop in December. More clarity on the Fed’s future may emerge as the US releases retail sales data and a number of Fed members are scheduled to speak.

In commodities, oil was set for a weekly decline, driven down by the impact of a stronger currency and concerns that the global market would turn into a glut next year. Gold remained near a two-month low.