Asia shares rally on Fed cut bets; yen pares gains [Reuters]
Wells Fargo & Company (WFC)
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Source: Reuters
SINGAPORE, May 6 (Reuters) - Asian stocks rose on Monday on renewed bets that the Federal Reserve would likely ease rates this year, while the yen weakened after a strong surge last week from Tokyo's suspected currency intervention. Trading was thinned in Asia with Japan out for a holiday, though markets in mainland China got off to an upbeat start after returning from an extended break. MSCI's broadest index of Asia-Pacific shares outside Japan edged more than 0.5% higher, while China's blue-chip index gained 1.4%. Chinese shares offshore posted strong gains last week while mainland markets were closed from Wednesday to Friday for the Labour Day holiday. Hong Kong's Hang Seng Index rose 4.7% last week and on Friday clocked its longest daily winning streak since 2018. It was last down 0.2%. The Nasdaq-listed Golden Dragon China Index jumped 5.5% last week. Similarly, in currency markets, the offshore yuan was last roughly 0.1% lower at 7.2013 per dollar, after strengtheni
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WFC
Earnings
- 4/12/24 - Beat
WFC
Sec Filings
- 5/17/24 - Form 424B2
- 5/15/24 - Form 424B2
- 5/15/24 - Form 424B2
- WFC's page on the SEC website