Published on 12 October 2017
Asian shares climbed to fresh highs today – with the MSCI Asia-Pacific index rising 0.5% to its highest level since 2007, Japan’s Nikkei 225 adding 0.4% to reach its highest mark since 1996, Hong Kong’s Hang Seng index edging up 0.2% to hit its highest level in a decade, and South Korea’s Kospi index gaining 0.5% to notch a new all-time high, according to Reuters.
Asian markets are riding a wave of investor optimism that has sent global markets surging – with all three major Wall Street indexes scoring record closes yesterday.
“Fundamentally, the global economy is in decent shape. Corporate sentiment is also sound as evidenced by strong data like the Chinese PMI, US ISM and Japanese tankan. All these factors are leading to the rise in global stocks,” commented Masahiro Ichikawa, senior strategist at Sumitomo Mitsui Asset Management in Tokyo.
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