(MENAFN– ecpulse)
Asian stocks inclined today and the MSCI Asia Pacific index jumped 0.8% in Tokyo, which is the highest close since June 4. This came along with an increase in metals prices as the dollar dropped after Ben S. Bernnanke Federal Reserve Chairman said the U.S economy still needs stimulus.
Emerging market currencies rose today against the dollar, after Bernanke`s speech and the Dollar index dropped 1.4 percent. Yet, the yen dropped against 11 currencies ahead of BOJ monetary policy statement.
Moreover, Australia`s S&P/ASX 200 Index climbed 1 percent in today`s trades to reach the highest close since May 29, while South Korea`s Kospi index climbed 1.5 percent, which is the most in two weeks. The Nikkei 225 stock average fell 1 percent alongside a drop in the yen`s value, as it fell 0.7 percent against the euro to reach 130.25.
Metals inclined in today`s trades as gold prices jumped 1.9 percent to record $1,283.18 per ounce, while silver gained 2.1 percent and Palladium climbed 1.3 percent. Copper futures rose 1.6 percent and platinum increased 2 percent. As for currencies, the Australian dollar climbed 0.5 percent against the U.S dollar, while New Zealand dollar added 0.9 percent and Korea`s won rose 0.8 percent.
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