SINGAPORE: Asian stocks firmed on Thursday after weak U.S. data reduced the already low chance of an interest rate increase by the Federal Reserve at next week's meeting, sending the Treasury yield curve surging to its steepest level in 2-1/2 months.MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.15 percent. Japan's Nikkei advanced 0.3 percent, while Australian shares climbed 0.9 percent.South Korean, Chinese, Taiwanese and Hong Kong markets are closed for holidays.U.S. August retail sales and manufacturing output fell more than expected, data released Thursday showed. The lacklustre reports prompted the Atlanta Fed to lower its third-quarter gross domestic product estimate to a 3 percent annual rate, from 3.3 percent earlier. "Anyone still left calling for a September hike next week from the Federal Reserve must be feeling a bit hot under the collar after further signs of economic vulnerabilities," Chris Weston, chief market strategist at IG in Melbourne, wrote in a note.

Source: The Star September 16, 2016 00:56 UTC