Stocks stage recovery as Treasury yields climb

The MSCI Asia Pacific Index climbed from the lowest level since May 2017, with shares in Hong Kong and South Korea leading the way.

Oct 12, 2018 08:10 IST India Infoline News Service

EU stock market
Stocks staged a robust recovery on Friday as strong trade data from China buoyed markets at the end of a tumultuous week. The dollar steadied as Treasury yields ticked higher.

The Stoxx Europe 600 index gained for the first time in three days, though still headed for its worst week since March, while U.S. equity-index futures also advanced.

The MSCI Asia Pacific Index climbed from the lowest level since May 2017, with shares in Hong Kong and South Korea leading the way. Benchmarks in Tokyo struggled for traction and shares in Shanghai staged a modest rally.

The yuan retreated following a Bloomberg report that US Treasury staff concluded China isn’t manipulating its exchange rate.

Source: Bloomberg

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