Reuters. Outbreak of coronavirus disease (COVID-19) in Tokyo, passing an electronic board wearing a protective face mask showing the exchange rate between the Japanese Nikkei average and the Japanese yen against the US dollar.
By Paul Lina Duran and Jessica Dinapoli
SYDNEY / NEW YORK (Reuters) – Asian stock markets kicked off a new month on Tuesday with a resounding global economic recovery, vigorous Chinese factory activity and ongoing financial and financial aid expectations.
MSCI’s Broadcast Index of Asia-Pacific shares outside of Japan closed 1.08%, the highest since November, after closing at a 9% higher month.
China’s blue-chip CSI 300 index rose 1.56% higher on Tuesday after a business survey reported that Tuesday’s activity in China’s factory sector accelerated in a decade in November.
“We have had this strongest reading in China for many, many years,” said Fisher John Woods, Asia Pacific’s chief investment officer, “and indeed, it supports the region’s broader economic recovery story.” Credit Suisse (Six 🙂 ‘s private bank.
“Where China’s PMI goes, MSCI Asia’s former Japan follows, so we would expect to see more capital appreciation on the story of strong growth in China.”
1.34% while South Korea rose 1.5%. Australia Australia’s central bank said the country’s economy would need financial and monetary assistance “for some time”, while Australia Australia was up 1% while noting better news.
“What we’re seeing today is that the upward trend is resurfacing, given the positive news on the vaccine front, China’s growth and strong confidence in central banks’ ability to keep markets afloat,” said market strategist Stephen Miller. For GSFM funds management.
MSCI’s global stock gauge was up 0.18% and e-mini futures were up 0.9%.
“We have clearly seen a huge surge in liquidity in equities in response to vaccine news and in response to US election news,” said Hamish Tedgal, portfolio manager at SG Hiscock & Co.
“But there are still risks, and as a result we can see market pullbacks, I think, especially as we approach the Christmas period.”
Modern (Nasdaq 🙂 Inc. applied for U.S. emergency authorization for its COVID-19 vaccine after full results of a late-stage study showed it to be 94.1% effective without any serious safety concerns.
Progress on the Covid-19 vaccine and hopes of a rapid economic downturn next year are boosting optimistic sentiment in the market, analysts said.
Interactive Brokers (Nasdaq 🙂 Chief Strategist Steve Sosnik said, “I think the markets are determined that, if one does not take the full value of the recovery, it is offering prices at most of its price (and) meeting these elevated expectations.” It’s very difficult to do, “said Steve Sosnik, chief strategist at Interactive Brokers (Nasdaq :).
The dollar was under pressure on Tuesday, after the worst month since July closed with a slight bounce and investors rallied against the US dollar. Considering the financial simplicity.
The American bond market was a little weaker as the U.S. Congress began a two-week start to protect government funding and avoid a potential shutdown between coronavirus epidemics.
Benchmark U.S. 10-year yield of U.S. A pipe in Treasury futures rose to a low of 8 138.51.
Oil prices were slightly lower on uncertainty over whether the world’s major oil producers would agree to increase deeper output cuts in negotiations this week.
On Tuesday, 35 cents returned to 44.99 a barrel, while futures fell 33 cents to close at 47.55 dollars.
