Economic news

Asian stocks recover, U.S. rate concerns remain in focus

Asian stocks recovered on Friday as minutes from a Federal Reserve's last policy meeting eased concerns over faster rate hikes in the U.S.

Photo: Reuters

MSCI’s broadest index of Asia-Pacific shares gained 0.9 percent.

Japan’s Nikkei edged up 0.7 percent.

Hong Kong’s Hang Seng Index increased 1 percent. South Korea's Kospi index jumped 1.5 percent. Australia’s S&P/ASX 200 Index rose 0.8 percent.

Wall Street closed higher on Thursday. The S&P 500 ticked up 0.1 percent to 2 703.96 points. The Dow Jones industrial index rose 0.66 percent to 24,962.48. The high-tech Nasdaq index inched up 0.11 percent to 7,210.09 points.

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