Asian shares advance on U.S. stimulus hopes, strong Chinese data

03.09.2020 - Davydova Maria
Asian shares advance on U.S. stimulus hopes, strong Chinese data

Asian share markets recorded a strong session on Thursday. This followed after a maintained rebound in China’s services sector and the prospect of additional stimulus from the United States supported investors’ risk appetite. Meanwhile, the dollar erased earnings.

MSCI’s broadest index of Asia-Pacific shares outside Japan recorded a 0.5% gain. The index tallied its third session of gains to place near its 2-1/2-year peak.

Australian shares gained 0.9%, while Japan’s benchmark index Nikkei advanced 1.3%. Hong Kong’s Hang Seng index jumped 0.3%, while China’s blue-chip index tallied a 0.35% earning. E-mini futures for the S&P 500 made minimal changes.

According to analysts, equity markets are likely to advance further as investors focus on the “easy money” dimension. However, growing risks cannot be disregarded.

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