Asia gains on BoE easing boon, key US jobs data awaited

Asian shares joined a rise in global stock prices on Friday after the Bank of England (BoE) launched a potent post-Brexit stimulus campaign, but some caution before a big US jobs report limited gains. An overnight rally in crude oil prices also sharpened risk appetites, while sterling nursed deep losses after sliding on news of the BoE stimulus plan.
The BoE said it would take “whatever action is necessary” to achieve stability in the wake of Britain’s vote to leave the European Union.
The BoE’s quarter point rate cut to a record low 0.25 percent sent already low global bond yields even further down with British yields hitting record lows as gilt prices rose.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.3 percent, headed for a 0.9 percent weekly gain. MSCI’s world stocks index rose 0.3 percent.
South Korea’s Kospi added 0.4 percent. Japan’s Nikkei advanced 0.6 percent.




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