INSUBCONTINENT EXCLUSIVE:
Asian shares rose today after upbeat data and optimism in the tech sector lifted Wall Street stocks.Asian shares advanced on Friday after
upbeat data and optimism in the tech sector lifted Wall Street stocks, helping calm some of the jitters sparked by the Federal Reserve's
cautious outlook on the world's biggest economy.MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.25 per cent while
Japan's Nikkei gained 0.3 per cent.On Wall Street, the SP 500 gained 1.09 per cent while the Nasdaq Composite rallied 1.42 per cent, with
the Philadelphia SE Semiconductor Index soaring 3.5 per cent.Apple Inc led the tech sector's advance, rising 3.7 per cent, ahead of the
company's expected streaming service debut next week.Thursday's US economic data was upbeat as initial claims for jobless benefits fell
more than expected and mid-Atlantic factory activity rebounded sharply.The figures mollified worries about the US economic outlook after the
Fed on Wednesday surprised investors by adopting a sharp dovish stance, anticipating no further interest rate hikes this year and ending its
balance sheet rolloffs.The dollar also jumped back, with its index against a basket of six major currencies rising to 96.316 from
Wednesday's 1-1/2-month low of 95.735.The euro traded at $1.1377, off Wednesday's 1-1/2-month high of $1.14485.The dollar stood at
110.77 yen, having hit a five-week low of 110.30 on Thursday.The benchmark US 10-year notes yield slipped to as low as 2.500 per cent on
Thursday, its lowest since early January last year.The five-year yield dropped to 2.34 per cent, below the current Fed funds rate around
2.40 per cent, as fed funds futures price in about 50 per cent chances of a rate cut this year."The main market reaction to the Fed's
announcement was that it has become a consensus that the Fed's next move is a rate cut," said Naoya Oshikubo, senior manager at Sumitomo
Mitsui Trust Asset."As economic data from China and elsewhere has not bottomed out yet, investors will be looking at economic fundamentals
If there are improvements, then markets could roll back expectations of a Fed rate cut," he said.Another cloud hanging over markets was
Britain's fraught moves to exit from the European Union, as the British pound was bruised anew by rising worries about a no-deal Brexit.EU
leaders said Britain could leave the European Union without a deal on April 12 if lawmakers fail next week to back Prime Minister Theresa
May's agreement with Brussels.EU leaders gave May an extra two months, until May 22, to leave if she wins next week's vote in
parliament.The pound traded at $1.3124, having dropped to $1.3004 the previous day
Against the euro, it hit one-month low of 0.8722 to euro on Thursday and last stood at 0.8664.Oil fell held near 2019 highs, supported by a
broad risk-on mood, OPEC production cuts and US sanctions on key producers Iran and Venezuela.US crude traded flat at $59.98 a barrel.(This
story has not been edited by TheIndianSubcontinent staff and is auto-generated from a syndicated feed.)Get the latest election news, live
updates and election schedule for Lok Sabha Elections 2019 on TheIndianSubcontinent.com/elections
Like us on Facebook or follow us on Twitter and Instagram for updates from each of the 543 parliamentary seats for the 2019 Indian general
