European stocks hit one-week highs, gaining 0.8% as chipmakers gained following Nvidia’s revenue forecast. Tech stocks jumped 1.8%, while real estate stocks also rose, adding as much as 2%.
“To see what Jerome Powell now says in the light of some weaker underlying economic data - How he’s going to message? Are we at the peak? Are we going to hold? - I think it’s the absolutely crucial thing,” said Robert Alster, chief investment officer at Close Brothers Asset Management.U.S.
Earlier, MSCI’s broadest index of Asia-Pacific shares outside Japan closed up 1.5%, also lifted by Nvidia’s bullish outlook. The Chinese yuan inched higher as the central bank continued to fix the daily mid-point at stronger-than-expected levels.
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