Asian equities traded in a narrow range while the region’s currencies stayed relatively calm, as traders digested the effects of the political storms in France and South Korea.
Bitcoin exceeded $100,000. The MSCI Asia Pacific index was little changed, with gains in Taiwan and Singapore offsetting losses in Hong Kong and India.
Korean equities retreated, with the country’s ruling party looking to prevent President Yoon Suk Yeol’s impeachment by voting against a motion to initiate proceedings that may take place Saturday. Japanese stocks pared early gains.
Bitcoin extended a rally from Wednesday to hit the $100,000 mark for the first time ever, after President-elect Donald Trump picked a crypto proponent to be the next head of the US securities regulator.
A broadly bullish outlook worldwide, triggered by Federal Reserve Chair Jerome Powell’s latest comments on the US economy and a jump in US tech stocks, is outweighing uncertainties stemming from the political instability in South Korea and France.
The S&P 500 index rallied to another record overnight, with traders now waiting for the non-farm payrolls data due Friday.
