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Fed's Powell says won't "guess" Trump policies

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US Treasury yields, dollar pulled back from multi-month

peaks

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S&P 500, Nasdaq pushed to all-time highs, Dow held steady

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World equities index at record peak, on track for 3.3%

weekly

advance

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Chinese equities buoyant as stimulus hopes counter Trump

tariff

threat

By Kevin Buckland

TOKYO, Nov 8 (Reuters) - Asian stocks rose broadly on

Friday, tracking Wall Street's overnight rise to record highs,

as investors digested the Federal Reserve's message for careful

interest rate cuts even with expectations for big fiscal

spending under incoming President Donald Trump.

U.S. Treasury yields pushed to new lows in Asian hours,

keeping the dollar under pressure after its biggest decline

versus major peers in more than six weeks on Thursday.

Asia-Pacific stocks were on track for a 3.1%

rally this week, after quickly recovering from a knee-jerk dip

on U.S. election night, which spurred worries of debilitating

trade tariffs, not least in China.

However, optimism over stimulus from Beijing buoyed

sentiment as the week-long National People's Congress Standing

Committee meeting concludes on Friday with officials holding a

briefing. Sources previously told Reuters that Chinese fiscal

spending could be increased in the event of a second Trump

presidency.

Mainland Chinese blue chips were up 0.5% as of

0155 GMT, after a 3% surge on Thursday. Hong Kong's Hang Seng

gained 1%.

Japan's Nikkei added 0.25%, up 3.7% for the week.

Australia's stock benchmark climbed 1%, and Taiwan's

benchmark gained 0.7%.

Global stocks, led by Wall Street, are

headed for a 3.3% weekly advance, and stand at a record high.

Trump swept back to the White House on Tuesday with

Republicans taking back the Senate and potentially increasing

their House majority, although votes are still being counted.

The outcome defied polls that predicted a neck-and-neck race

with Democrat Kamala Harris.

Investor expectations that Trump would lower corporate taxes

and loosen regulations sent all three major Wall Street indexes

to record peaks on Wednesday, and the S&P 500 and Nasdaq

extended those highs on Thursday, with Fed Chair Jerome

Powell signalling continued, patient policy easing. The Dow

ended flat.

"We think that the economy, and we think our policies, are

both in a very good place, a very good place," Powell said in

his post-meeting news conference.

"We don't know what the timing and substance of any policy

changes will be," Powell said, referring to the incoming Trump

administration, whose tariffs and immigration policies are

expected by analysts and investors to be inflationary.

U.S. two-year Treasury yields, which are highly

sensitive to monetary policy expectations, edged down to 4.2119%

on Friday, compared with a more than three-month high of 4.3120%

on Wednesday.

The dollar index, which measures the currency against

six major peers, ticked up slightly to 104.53, but that followed

a 0.7% drop on Thursday, its biggest since Aug. 23. On

Wednesday, it soared 1.53%, the most in over two years.

"Markets have already gone through the 'honeymoon period'

for the president-elect, and USD and U.S. rates now are in the

'window period', when they consider the policy outlook," said

Shoki Omori, chief Japan desk strategist at Mizuho Securities.

"The key is whether the president-elect and his team want

more fiscal issuance next year," and market participants will

again need to be alert for potentially market-moving posts from

Trump on social media, Omori said.

Bitcoin was flat at $76,000, following a nearly 10%

surge this week, hitting a record peak of $76,980 on Thursday.

Trump has vowed to make the United States "the crypto capital of

the planet".

Gold struggled to make any additional headway

following its rollercoaster week, easing 0.2% to $2,701.55 in

the latest session. It slumped more than 3% on Wednesday, but

bounced 1.8% overnight. Last week it surged to an all-time high

of $2,790.15.

Oil prices edged lower on Friday, following gains of about

1% overnight as the market weighed how President-elect Donald

Trump's policies would affect supplies and as drillers cut

output while bracing for Hurricane Rafael.

Brent crude oil futures were last down 0.22% at

$75.46 a barrel, while U.S. West Texas Intermediate (WTI) crude

eased 0.35% to $72.11.