[HONG KONG] Asian markets rose on Thursday, tracking a record performance on Wall Street, as investors turned their focus to the upcoming release of US jobs data while hoping for a big Federal Reserve interest rate cut.
With the relief-rally from Donald Trump and Xi Jinping's trade war ceasefire running its course, dealers were turning their attention to the global outlook and pinning their hopes on central bank support. "If the pillars of the economy begin to show some signs of weakness, this will disrupt the US consumer and support the calls for the Fed to cut in July and signal an additional one is on the way."In early Asian business, Hong Kong was up 0.5 per cent, Shanghai added 0.1 per cent, Tokyo climbed 0.3 per cent by the break and Sydney jumped 0.6 per cent.
Stephen Innes, at Vanguard Markets, said the fall in yields across several asset classes"has increased investor appetite for high dividend-yielding equity risk".
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