Global stocks set to snap 9-week winning streak on Fed repricing
TOKYO : Asian stocks wobbled on Friday, keeping global equities on track to snap a nine-week winning streak, while the dollar was poised for its strongest weekly advance since mid-July as bets on aggressive Federal Reserve rate cuts were rolled back. MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.1 per cent in the Asian morning, with Hong Kong’s Hang Seng slipping 0.18 per cent. The MSCI world index was about flat so far on the day, but heading for a 1.7 per cent decline this week. Japan’s Nikkei was something of an outlier, bouncing 0.5 per cent on Friday as exporters got a boost from the yen’s slide back to just shy of 145 per dollar amid a rise in U.S. Treasury yields. The U.S. dollar index, which measures the currency against a basket of six major peers including the yen, hovered around 102.39, not far from Wednesday’s three-week high of 102.73. For the week, it is up 0.97 per cent. Meanwhile, the 10-year Treasury yield was hovering just below the psychological 4 …