Asian equities hit a record high on Monday as investors set aside fears about rising coronavirus cases and bought stocks, cheered by data showing a robust recovery in China and Japan. There are just mountains of cash sitting on the sidelines and big hedge funds know it.
Daily Market Analysis
U.S. stock markets are indicated to open higher on Friday at the end of a topsy-turvy week in which the initial euphoria on finding an effective vaccine against Covid-19 has buckled under the weight of the bleak short-term outlook.
Asian equity markets weakened on spill-over selling from Wall Street; Hong Kong lagged. Looking ahead, highlights from macroeconomic calendar include Eurozone Employment and GDP (Flash), US University of Michigan, Fed's Williams and Bullard speeches.
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Asian equity markets traded mostly lower as sentiment gradually deteriorated from the mixed performance stateside.
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U.S. stocks are seen opening higher Wednesday, with gains seen across all sectors as the optimism following the news of a workable vaccine for the Covid-19 virus persists.
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Asian equity markets traded mostly higher as the region continued to benefit from the recent vaccine hopes.