Asian shares’ upbeat performance supports global bull run
Asian share markets were seen upbeat on Tuesday. The series of gains had sent global equities up to secure their 12th session of earnings. The strong upswing followed after investors’ sentiment was fueled by coronavirus vaccines, with rollouts expected to stage a brisk economic recovery.
MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.62% as Japan’s Nikkei advanced 1.4%, securing a 30-year high record. Hong Kong’s Hang Seng index reached a 32-month high, while Australian shares jumped 0.7%.
Global markets rallied higher as Asia monitored an upbeat performance. Futures for the S&P 500 earned 0.5%, while MSCI’s all country world index recorded minimal earnings.
Vaccine rollouts across the world are expected to boost the global economy. This, in turn, heavily supported investors’ risk appetite, JPMorgan Private Bank head of Asia investment strategy Alex Wolf said.