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.