Wednesday, 16 December 2015

Asia stocks gain as Wall Street rises before Fed

Asian stocks gained early on Wednesday, with sentiment lifting as Wall Street rose before a likely hike in US interest rates, while the dollar held to large gains made as Treasury yields picked up.

 MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 0.7 percent. 

Australian shares climbed 1.5 percent and Japan's Nikkei gained 1.9 percent. On Wall Street Tuesday, the Dow added 0.9 percent and the S&P 500 advanced 1.1 percent. 

Bank stocks, which will likely benefit from higher rates, were among the market leaders with a 2.4 percent advance on the S&P financial sector index.


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