Asian equities are underpinned by metals and crude

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.

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