A person looks at an electronic board displaying stock information at the Australian Securities Exchange operated by ASX Ltd in Sydney, Australia on March 16, 2020.
Brandon Thorne | Good pictures
Stocks rose in the Asia-Pacific on Friday as investors looked ahead to Fed Chairman Jerome Powell’s speech stateside after Jackson Hole.
In Australia, the S&P/ASX 200 Banks and mining stocks rose 1.06%.
The Cosby South Korea advanced 0.25% and COSTAC fell 0.29%.
MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.67% higher.
“Hawkish commentary from Fed speakers overnight had little effect as markets await Powell’s keynote speech in Jackson Hole this evening,” National Australia Bank economist Taylor Nugent wrote in a note on Friday. He noted that central bank spokesmen said the central bank’s job of fighting inflation was not over and that rates needed to enter controlled territory.
Overnight in the US, major indices rose. The Dow Jones industrial average rose 322.55 points, or 0.98%, to 33,291.78. The S&P 500 rose 1.41% to 4,199.12 and the Nasdaq Composite added 1.67% to 12,639.27.
Many companies listed in Hong Kong report earnings Meiduan.