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Asian Stocks Set to Advance; Kiwi Edges Lower
Stocks in Asia looked set to begin the week on the front foot amid signs that the pace of coronavirus outbreaks in the U.S. continues to slow. The kiwi dipped after New Zealand locked down Auckland while it investigates three new Covid-19 cases. U.S. markets are shut for Presidents’ Day, while exchanges in China, Hong Kong and Taiwan are also shut on Monday. Bitcoin approached $50,000. The reflation trade remains alive and well -- global equities ended Friday at a record high, with the MSCI world index up about 6% this year, while the Treasury yield curve tested the steepest levels in more than five years. While ... (full story)