Asia Stocks Rise to 10-Year High on Strong Earnings, Fed Signal
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Noble shares are plunging in Singapore after warning of losses of around $1.8B in 2Q. Bloomberg's James Poole reports on 'Bloomberg Markets: Asia (Source: Bloomberg)
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Asian shares rose to the highest level since December 2007 on strong earnings from some of the region’s key companies and the Federal Reserve’s signal that inflation remains persistently below its target.
The MSCI Asia Pacific Index climbed 1 percent, the most since June 2, to 160.81 as of 4:47 p.m. in Hong Kong, with all of its sector gauges rising. The Bloomberg Dollar Spot Index extended losses after the Fed held rates steady and indicated it would start unwinding its balance sheet “relatively soon.”