Asian markets rise again; Investors make most of feel-good vibe

Hong Kong: Asian markets rose again today as the feel-good factor that fired investors the day before looked set to push into the weekend, fuelled by upbeat data and trade optimism.

A growing sense that Britain could avoid crashing out of the European Union was adding to the positive vibe and keeping the pound at a more than one-month high against the dollar.

After a tumultuous August, dealers were given a much-needed shot in the arm this week with news that China and the United States would resume high-level trade talks next month in Washington.

This week also saw China flag plans for fresh economy-boosting measures, while data out of Washington on Thursday showed August private-sector jobs creation beat the previous month and was higher than expected.

Forecast-topping read on the US services sector provided extra joy. The reports set the scene for the much-anticipated release of non-farm payrolls later Friday, which are closely watched for clues about the State of the world’s top economy.

The reading could also give an idea about the Federal Reserve’s plans for interest rates this year, with observers expecting it to unveil more cuts this year. Expectations for an extended run of reductions has lent much-needed support to markets this year.

Agency