mulberry handbags sale
By Shinichi Saoshiro
TOKYO (Reuters) - Asian shares hovered near four-month highs on Thursday as upbeat U.S. data underpinned risk appetite, while news China is taking steps to stimulate its economy spurred Tokyo's Nikkei to a three-week peak.
European shares were also set for a higher start, with financial spreadbetters expecting Britain's FTSE 100 (.FTSE) to open up by 9-10 points, Germany's DAX (.GDAXI) by 10-12 points and France's CAC 40 (.FCHI) by 2-4 points.
The yen languished at 10-week lows as equity markets rose, denting safe-haven demand for the currency.
MSCI's broadest index of Asia-Pacific shares outside Japan added 0.1 percent to brush a new four-month high. The index has rebounded about 6 percent from a five-week low hit on March 20, supported by receding tensions in Ukraine and hopes China will take steps to stimulate its sagging economy.
Tokyo's Nikkei (NIK:^9452) outperformed to gain 1.2 percent while South Korea's KOSPI (.KS11) rose to three-month highs (.T)
China acted for the first time this year to steady its stumbling economy by cutting taxes for small firms on Wednesday and announcing plans to speed up the construction of railway lines.
"The (China) announcement is lifting the mood because investment expansion such as infrastructure investment would pave the way for growth in consumption in the future," said Takuya Takahashi, a strategist at Daiwa Securities in Tokyo.
Other cues for investors came from another record-breaking performance on Wall Street, with the S&P 500 closing at an all-time high on Wednesday as markets lapped up another set of solid private-sector jobs and factory orders data.
The data bolstered expectations for a strong U.S. nonfarm payrolls report on Friday and pushed U.S. Treasury yields higher, which in turn kept the dollar well bid.
The yen remained on the back foot as its safe-haven appeal continued to fade. The dollar traded at 103.965 yen, after briefly touching a 10-week high of 104.075.
The outlook for the Japanese currency remains weak. It is expected to lose ground as persistently low inflation and an economy hurt by a sales tax is likely to force the Bank of Japan to ramp up its own stimulus just as the Federal Reserve winds down its own.
The euro was little changed at .3757 against the dollar ahead of an European Central Bank policy meeting later in the session.
The single currency plumbed a one-month low of .3704 last week amid heightened speculation the ECB would ease.
"The failure to act could trigger another wave of euro buying, similar to last month," currency strategists at Brown Brothers Harriman wrote in a note to clients.
"On the other hand, if the ECB does not ease, the market could ease for them by taking the euro lower," they added.
The New Zealand dollar nursed losses after weak dairy production offered players an excuse to take profits on Wednesday while the kiwi traded at a 2-1/2 year peak.
The New Zealand dollar was at #article#.8543, pulling back sharply from the 2-1/2 year high of #article#.8702 hit earlier this week on expectations for sustained rate hikes by the Reserve Bank of New Zealand.
In the commodities markets, gold remained firm on signs of physical demand in Asia after bargain-hunting helped the metal post its biggest gain in three weeks on Wednesday.
Spot bullion was at ,291.71 an ounce, not far off Wednesday's session high of ,294.60. (GOL/)
China's stimulus plans did not impress all assets, and London copper dipped after the measures did not herald new demand for the metal. (MET/L)
Three-month copper on the London Metal Exchange slipped to ,636.00 a tonne, reversing Wednesday's gains made after an earthquake in top mine producer Chile raised concern over supply.
Brent oil remained near a five-month low hit on Wednesday when expectations rebel-held Libyan ports could reopen within days eased supply woes. Lukewarm Chinese factory data also weighed on oil. (O/R)
Brent crude oil stood at 4.88 a barrel after falling to 3.95 on Wednesday, its lowest since November 8.
(Additional reporting by Ayai Tomisawa in Tokyo; Editing by Shri Navaratnam/Eric Meijer and Simon Cameron-Moore)CurrencyAsia NewsChinaTokyo
mulberry daria hobo
mulberry daria satchel
mulberry handbags sale