TOKYO: Asian stocks perked up on Thursday, as apparent progress in the political crises in Britain and Hong Kong gave investor confidence a shot in the arm, with easing fears of a hard Brexit lifting the battered pound.
Still, there was scepticism over how long the positive mood would last with Britain's divorce from the EU and political unrest in Hong Kong not yet completely resolved. The curve inverted on Aug. 14 for the first time since 2007 when long-term yields traded below short-term yields, which is a widely accepted indicator of coming recession.
Blocking the path to a no-deal Brexit relieves concern about another potential drag on global growth, but Britain is still headed for a snap election, which could introduce more political uncertainty about who will lead Britain out of the EU.
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