Asian shares hit two-year peak on upbeat Chinese shares

140452

Chinese shares’ strong performance drove Asian stock markets to a two-year high on Monday. This could be attributed to investors’ upbeat sentiment over a steady recovery in China. However, U.S. stimulus talks kept the dollar firm, while a central bank policy restricted the yuan.

MSCI’s broadest index of Asia-Pacific shares outside Japan reached a 2-1/2-year peak after advancing 0.8%. The index was supported by Chinese blue chips’ 2% gain and Hang Seng index’s 1.5% jump. Japan’s benchmark index Nikkei had seen a 0.3% drop as corporate earnings dragged investors’ sentiment.

As China returned from its eight-day public holiday, a strong rebound in the tourism sector and easing coronavirus cases greatly contributed to investors’ sentiment. Meanwhile, coronavirus-driven programs in the United States are in disarray as the Trump administration demand the passing of a relief bill.

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions
Something went wrong
Message: