Asian shares surge, hitting new record highs on hopes for global recovery

08.01.2021 - Davydova Maria
Asian shares surge, hitting new record highs on hopes for global recovery

Asian shares surged on Friday to hit new record highs, capped by Japan’s Nikkei posting a 30-year high. These Asian market gains overshadowed pressing economic concerns including persisting COVID-19 cases and political unrest in the United States as investors set sights on global economic recovery.

Asian markets followed after Wall Street capped big gains on Thursday while bond prices fell as markets anticipate heavy spending and borrowing from a new Democratic-led government leading the way to economic recovery.

South Korea’s Kospi moved up by 2.8%. Japan’s Nikkei posted a 1.73% gain to hit its highest level since 1990. MSCI’s broadest index of Asia-Pacific shares outside Japan added 1% to also cap a record high.

Meanwhile, Hong Kong’s Hang Seng managed to advance 1.2% despite reports that the White House mulls banning U.S. firms from investing in a list of Chinese firms. Australia’s S&P/ASX 200 only edged up by 0.48% due to the state of Queensland’s three-day lockdown enforcement in Brisbane the new COVID-19 variant from the U.K. entered the state’s capital.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?