Investing.com - Japan again led Asian shares higher with end of the week trade on Friday boosted by the European Central Bank with its commitment to stimulating growth in the eurozone.
The Nikkei 225 added 0.8% after ECB President Mario Draghi on Thursday reiterated the bank's unanimous commitment to stimulate growth in the eurozone, closely following the Bank of Japan's decision last week to expand its bond-buying program. Two central banks' indications that they are ready to loosen monetary policy further has eased concerns that the U.S. will sap liquidity from emerging markets, including in Asia, as the Federal Reserve looks to raise interest rates.
Overnight, U.S. stocks ended Thursday higher on the coattails of better-than-expected jobless claims numbers and the ECB assurances.
The Dow 30 rose 0.40%, the S&P 500 index rose 0.38%, while the NASDAQ Composite
News that the number of people who filed for unemployment assistance in the U.S. last week fell more than expected, also fuelled optimism over the strength of the labor market.
The U.S. Department of Labor reported earlier that the number of individuals filing for initial jobless benefits in the week ending Nov. 1 decreased by 10,000 to 278,000 from the previous week’s revised total of 288,000.
Analysts had expected jobless claims to fall by 3,000 to 285,000 last week.
The number of Americans applying for new jobless benefits held below 300,000 for the eighth consecutive week, a sign that recovery in the labor market may be gaining momentum.
Continuing jobless claims in the week ended Oct. 25 fell to 2.348 million from 2.387 million in the preceding week. Analysts had expected continuing claims to decline to 2.360 million.
On Friday, expect markets to track the U.S. October jobs report.
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Japan continues to lead Asian markets higher on ECB assurance
Published 11/06/2014, 09:25 PM
Updated 11/06/2014, 09:26 PM
Japan continues to lead Asian markets higher on ECB assurance
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