Asia Apr 9

After a Wall Street rally on Fed Powell's assurance that the central bank would reinvigorate the economy without stoking painful inflation, global stocks traded near record highs on Friday.
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Japan rose, but Hong Kong and China fell, as an index of Asia-Pacific stocks edged higher. The fastest producer price inflation in China since 2018 was reported, according to data. US futures rose after the S&P 500 reached a new peak despite light trading volumes on US exchanges. On tech stock rallies, the Nasdaq 100 outperformed.

Treasury yields have risen as a result of Powell's promise, with the benchmark yield hovering near a two-week peak. Treasury 20-year bonds performed well after remarks from New York Fed Executive Vice President Logan sparked discussion of increased central-bank purchases in this maturity. The dollar held losses.

Saudi Arabia defended the OPEC+ initiative to raise production and said the group would change direction if necessary, pushing oil closer to $60 a barrel.