Asian Stocks Edge Higher On Wall Street Cues; Oil Up


Asian stocks edged higher on Thursday, underpinned by a firm Wall Street after minutes from the Federal Reserve's December meeting suggested a less hawkish stance from policymakers. Oil prices rose on expectations of drops in US inventories. MSCI's broadest index of Asia-Pacific stocks outside Japan gained 0.2 percent, on track for a eighth consecutive session of gains. Early Asian markets such as Australia rose 0.4 percent. "The FOMC dot plots project three interest rate hikes in 2017 however the market is less optimistic with Fed Fund futures pricing in two hikes," said James Woods, global investment strategist at Rivkin Securities in Sydney. "The market will now focus on Trump’s first 100 days where he sets the tone for his presidency and whether or not he will be able to implement his policies."

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