TOKYO/NEW YORK: Asian shares inched close to 2-1/2-year highs on Friday as revived hopes for a U.S. stimulus deal eclipsed weaker-than-expected jobs data, while mainland Chinese markets jumped after a week-long holiday.
Japan's Nikkei dipped 0.1per cent after hitting a 7 1/2-month high, while futures for the S&P 500 gained 0.47per cent. The S&P 500 energy index led sector percentage gains, rising 3.8per cent on the day, after a jump in oil prices due to production shutdowns ahead of a storm in the U.S. Gulf of Mexico and the possibility of supply cuts from Saudi Arabia and Norway.
"Biden seems to have a clear lead following the TV debate and a coronavirus cluster in the White House, which has raised questions about Trump's crisis management capabilities," said Mutsumi Kagawa, chief global strategist at Rakuten Securities. The 10-year U.S. Treasuries yield was up 8.5 basis points so far this week to stand at 0.779per cent . It hit a four-month high of 0.797per cent on Wednesday, but has slipped in part due to weak economic data.
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