* Asian stock markets: https://tmsnrt.rs/2zpUAr4
* Global asset performance http://tmsnrt.rs/2yaDPgn
* World FX rates http://tmsnrt.rs/2egbfVh
By Hideyuki Sano
TOKYO, April 16 (Reuters) - Asian shares were little
changed on Friday ahead of a raft of Chinese economic data,
while world stocks on the whole flew at a record level, fuelled
by strong U.S. economic data that may herald a solid recovery
ahead.
MSCI's broadest index of Asia-Pacific shares outside Japan
.MIAPJ0000PUS were little changed while Japan's Nikkei .N225
ticked up 0.2%.
China will release a series of economic data later in the
day, including its first-quarter GDP.
MSCI's broadest gauge of world stocks .MIWD00000PUS stood
flat after 0.89 percent gains the previous day to a record high.
"U.S. economic data released yesterday was all strong,
confirming the U.S. economy is firmly on a recovery track," said
Norihiro Fujito, chief investment strategist at Mitsubishi UFJ
Morgan Stanley Securities.
Retail sales rebounded 9.8% in March, the largest increase
since May 2020, in a gain that pushed the level of sales 17.1%
above its pre-pandemic level to a record high. The brightening economic prospects were underscored by other
data, including first-time claims for unemployment benefits
tumbling last week to the lowest level since March 2020.
Despite strong data, U.S. bond yields dropped, in part
driven by Japanese buying, as they have began a new financial
year this month.
The 10-year U.S. Treasuries yield dropped to 1.529%, a
five-week low, on Thursday and last stood at 1.566%
US10YT=TWEB , off its 14-month high of 1.776% set at the end of
March.
"The market has already fully priced in an U.S. economic
recovery in the near term. And if the Federal Reserve will keep
interest rates on hold for the next two to three years, no doubt
the carry of U.S. bonds would be very attractive compared with
Japanese or euro zone bonds," said Chotaro Morita, chief fixed
income strategist at SMBC Nikko Securities.
The fall in long-term bond yields benefited stocks, and
particularly tech shares, given the idea that their historically
expensive valuations can be justified because investors would
have no choice but to buy shares to make up for low returns from
bonds.
On Wall Street, the S&P 500 .SPX advanced 1.11% while the
tech-heavy Nasdaq Composite .IXIC added 1.31%, nearing its
record peak set in February.
In the currency market, lower U.S. yields were a drag on the
U.S. dollar.
The euro stood at $1.1965 EUR= , having hit a six-week high
of $1.19935 overnight while the U.S. currency slipped to a
three-week low of 108.61 yen JPY= .
Oil prices held firm after hitting a four-week highs on
Thursday following positive U.S. economic data and higher demand
forecasts from the International Energy Agency (IEA) and OPEC.
Brent futures LCOc1 stood flat at $66.93 per barrel, while
U.S. crude CLc1 was also little changed at $63.42 per barrel,
both on course for their first substantial weekly gains in six.
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Global asset performance http://tmsnrt.rs/2yaDPgn
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(Editing by Gerry Doyle)