Christine Lagarde avoided blaming China for lackluster global economic growth on Thursday, framing the country's deep slowdown
Asian Stock Market
Asian stocks marched higher on Friday, following a positive terminal of Wall Street, fueled by status quo signals of Fed minutes. "It is easier than the political perception of the Fed means a weaker US dollar and helps emerging markets such as China to grow," said jérémy, equity strategist, Credit Suisse told Reuters. "I'm not sure we've seen the end of the problems for China, but not least, this is what investors appear to be the prices. " In the US, the Dow Jones Industrial Average closed above 17,000 for the first time since Aug. 19 win almost 1 percent and ended the session 138 points higher 17,050.75. The S & P 500 closed up nearly 1 percent to 2,013.43 and the Nasdaq up 0.4 percent to 4810.79. The increases came as investors digested the September meeting minutes from the Fed. "I think the combination of oil (gains) and the minutes of the Fed lifted the indices here," Cardillo said Peter, market economist at Rockwell Chief Global Capital, noting the minutes decreased the likelihood of an increase in rates this year.
The minutes show that Fed policymakers were still looking domestic inflation and the impact of slower global growth. "I think you have a little more clarity on what the Fed thought. The decision not to raise rates was more collaborative than people thought. The call was not really that close," said Peter Coleman, head trader at ConvergEx.
US and Chinese Stock marketExpectations that US interest rates will remain close to zero for now boosted the Nikkei 225, benchmark Japan, which closed up 1.6 percent to 18,438,67. Bucking the upward trend, shares of Fast Retailing sank 10 percent after the Japanese clothing company missed its earnings forecast for the year due to losses at US stores. It recorded an operating profit of 164.5 billion yen ($ 1.4 billion) - well below a projection of 200 billion yen.
Australian stocks recorded their fifth consecutive day of gains, with the ASX 200 ended 1.3 percent higher at 5279.70 - six weeks high - supported by gains in resource-related stocks.
China's top aircraft manufacturer
China's top aircraft manufacturer has revealed specifications of an advanced stealth fighter jet in a bid to lure foreign buyers, the official China Daily reported on Friday. In a rare disclosure, the state-owned Aviation Industry Corp of China (Avic) unveiled the capabilities of the J-31 aircraft at an aviation show, even though the jet is still being tested, the newspaper said.
"The prospect of a further weakening of the US dollar was clearly a boon to the materials and energy sector again today. Shorts in these sectors also seem to come off at a rapid pace as well," Angus Nicholson, Analyst market at IG. The materials sector added 9.6 percent this week, while the energy sector rose by 13.2 percent, according to IG.
China stock gains cool China's stock rally cooled, with the Shanghai Composite closed up 1.3 percent to 3143.35. This follows a gain of 3 percent on Thursday as the market resumed trading after a week long vacation.
China MarketThe earnings season for the third quarter of the country started running on Friday, with Shenzhen-listed Shandong Pharmaceutical Wohua report a 252 percent rise in profits, offsetting lackluster listed Shanghai Rope Xinri Hengli Steel Wire, which posted a loss.
Hong KongHong Kong's Hang Seng index rose 0.6 percent, regaining some ground after being hit by profit-taking a day earlier.
Shares of Chow Tai Fook rose as much as 4.5 percent after the largest retailer of jewelry in Hong Kong said a mini-gold rush, driven by falling prices, led to same-store growth sales up 4 percent in the second quarter, Dow Jones reported.
The South Asian markets for
The South Asian markets hungry before, enjoying the confidence of investors in the wider risks.