Tokyo's Nikkei 225 has soared to highs not seen since 1990 as a weaker yen boosts the country's exporters and falling bond yields lift investor confidence
Tokyo's Nikkei 225 has soared to highs not seen since 1990 as a weaker yen boosts the country's exporters and falling bond yields lift investor confidence AFP

Major stock markets mostly rose and the dollar fell Thursday before the release of US inflation data that could have a huge bearing on the Federal Reserve's timetable for cutting interest rates.

The positive vibes across Asian and European trading floors followed gains Wednesday on Wall Street, where tech firms bounced after a relatively dour start to the year and dealers were gearing up for annual earnings from the world's biggest companies.

"Today sees the latest US inflation data take center stage, with sentiment for US stocks expected to remain highly sensitive to any changes in the outlook for monetary policy going forward," said Joshua Mahony, chief market analyst at Scope Markets.

Wall Street won support Wednesday thanks to share-price gains for tech titans Amazon, Microsoft and Google-parent Alphabet, which have had a weak start to 2024.

Tokyo led the way in Asia on Thursday, piling on 1.8 percent to finish above 35,000 points for the first time since early 1990 as a weak yen boosted exporters.

Bitcoin held at around $46,600, having burst above $47,700 earlier in the day on news that the US Securities and Exchange Commission had given the go-ahead for wider trading of the world's biggest cryptocurrency in the form of exchange-traded funds.

The SEC approved the plans for 11 ETFs to list on leading exchanges including the New York Stock Exchange "on an accelerated basis", it said.

Analysts said the unit failed to take off after the news as the decision had largely been priced in over recent weeks.

ETFs are traded on public markets, granting investors exposure to price movements in asset prices without taking direct ownership of the underlying assets.

London - FTSE 100: FLAT at 7,649.01 points

Paris - CAC 40: UP 0.2 percent at 7,439.56

Frankfurt - DAX: UP 0.2 percent at 16,726.60

EURO STOXX 50: UP 0.3 percent at 4,483.67

Tokyo - Nikkei 225: UP 1.8 percent at 35,049.86 (close)

Hong Kong - Hang Seng Index: UP 1.3 percent at 16,302.04 (close)

Shanghai - Composite: UP 0.3 percent at 2,886.65 (close)

New York - Dow: UP 0.5 percent at 37,695.73 (close)

Dollar/yen: DOWN at 145.46 yen from 145.77 yen on Wednesday

Euro/dollar: UP at $1.0978 from $1.0976

Pound/dollar: UP at $1.2757 from $1.2742

Euro/pound: DOWN at 86.06 pence from 86.10 pence

West Texas Intermediate: UP 1.6 percent at $72.50 per barrel

Brent North Sea Crude: UP 1.3 percent at $77.78 per barrel