On Friday, Taiwan's stock market concluded up by strengthening the sectors of optoelectronics, electricity as well as hotel business…
Asian equities are underpinned by metals and crude
On Wednesday, a surge in commodities prices to multi-year maximums pushed resource-linked equities as well as currencies higher in Asia because bullish views on Chinese demand backed copper, while supply worries underpinned crude.
A revival in regional suppliers of Apple's iPhone following previous losses in the week also assisted Asian markets.
In a holiday-shortened week trading turned to be thin enough across the board. Apparently, MSCI's broadest index of Asia-Pacific equities outside Japan tacked on 0.2% hitting its highest value since late November. The index has soared approximately 32% for the year so far.
An indicator of world equities traded close to record maximums, having soared in every single month in 2017.
Copper jumped to a 3-1/2 year high on hopes of firm demand from China. At the same time crude hovered near its highest value since mid-2015 reacting to supply concerns.
The market optimism waned amid stricter restrictions to control rising coronavirus infections. S&P 500 and Nasdaq dropped from the all-time highs, while the USD jumped higher.
S&P 500 skyrocketed to the all-time high on optimism that Biden’s fiscal stimulus will support economic growth and boost corporate earnings.
PMI reports from the EU, the UK, and the USA will be released during the day!