Asian shares at 1-month highs, copper at 4-year peak
Asian shares rose to a one-month high on Thursday and were on track for their best annual performance since 2009, while commodity-driven currencies were buoyed by a rally in copper, which hit a four-year peak.
MSCI`s broadest index of Asia-Pacific shares outside Japan <.miapj0000pus> was up 0.1 percent at 563.86 points, a level last visited in late November. It has rocketed 32 percent in the year so far.
MSCI world equity index <.miwd00000pus>, which tracks shares in 47 countries, also held near record highs. It has surged 21.5 percent this year.
Trade was light across the board with many market participants on holiday.
Copper remained a standout trade, soaring for a ninth straight session on Wednesday to a level not seen since early 2014 on expectations of strong demand from top consumer China.
Prices of the metal, considered a barometer for global growth and used widely in power and construction, are up 30 percent in the calendar year so far.
Gold prices were also buoyant. Spot gold
The strength in metals boosted currencies of commodity exporting countries.
The Australian dollar
In other currencies, the greenback slipped against the yen
Treasury 2/10s yield curve slipped below 52 basis points, from almost 64 basis points last week.
"The dollar bears are getting their last licks in for 2017, perhaps foreshadowing of things to come in 2018," said Stephen Innes, head of trading for APAC at OANDA.
The dollar index <.dxy>, which measures the greenback against other major currencies, is seen ending about 9 percent lower in 2017 as the reflation trade seen at the start of the year faded.
It is down more than 3 percent on the yen.
In commodities, Brent crude
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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