Asian stock markets rallied on Thursday while the dollar dropped and global bond yields plunged, with the 10-year U.S. yield falling below two percent, after the Federal Reserve signaled possible interest rate cuts later this year.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.92%, led by gains in China, while Tokyo’s Nikkei advanced 0.67%.
European stock futures point to gains of up to 0.5% for markets there.
The MSCI ACWI, which incorporates readings of 49 equity markets across the world, gained 0.33% on Thursday. It has recovered a large part of its 6.7% losses made after U.S. President Donald Trump threatened new tariffs on all of China’s imports last month.