Asian stocks rose on Thursday, with the dollar weakening, as most U.S. equities climbed and the S&P 500 registered its longest winning streak in two years. Investors were on the lookout for signs that global interest rates have peaked.
The MSCI Asia Pacific ex-Japan index was flat, but had gained 4.6 percent for the month. The 10-year Treasury yield hit 4.5059 percent, while the two-year yield reached 4.932 percent.
Australian shares were up 0.44 percent, and Japan’s Nikkei 225 advanced 0.85 percent. Hong Kong’s Hang Seng Index and China’s CSI 300 index were up 0.11 percent and 0.2 percent, respectively.
Chinese inflation for October showed a 0.1 percent decline from the prior month and a 0.2 percent decrease year-over-year, according to official data.
The dollar dropped 0.06 percent against the yen to 150.88, not far from its 2021 high of 151.74 on October 31. The euro gained 0.0 percent at $1.0709, with the dollar index down slightly at 105.52.
The S&P 500 rose 0.10 percent and the Nasdaq Composite added 0.08 percent. The Dow Jones Industrial Average fell 0.12 percent.
Oil prices slid over 2 percent on Wednesday, reaching their lowest in more than three months. U.S. and Brent crude both rose 0.8 percent in Asian trading. Gold was slightly higher, with spot gold traded at $1950.79 per ounce.