Asian shares at one-year high, bonds fly high on ECB

Asian shares inched up to a one-year high on Thursday while global bond prices surged, pushing their yields to multi-month lows, supported by expectations of easier monetary policy from the European Central Bank. MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 0.15 percent, led by gains in Hong Kong .HSI and Singapore .FTSTI shares and hitting one-year highs for the fifth time in the last six sessions. Japan's Nikkei share average .N225 erased much of earlier losses to stand flat. Even as share prices stayed at elevated levels, however, bond yields fell sharply, as investors prepare for the ECB's easing.

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