Asian equities rally driven by US close last week

Asian equities rally driven by US close last week

On Monday, Asian equities surged, taking a cue from the American close the previous week.

The Nikkei 225 edged up 0.31%, Australia's S&P/ASX 200 soared 0.14%.

The Shanghai Composite tacked on 0.40%, the Hang Seng index added 0.50%.

Obayashi Corporation demonstrated a 7.19% tumble. The move was caused by a report from local newspaper Asahi Shimbun telling that prosecutors suspected that the company dealt with bid-rigging.

This week the Fed meets and the key US bank is generally believed to raise interest rates by a quarter point. As for the BoE, ECB and as well as the Swiss National Bank, they will also have monetary policy meetings, with no changes expected.

The previous week, the Dow Jones industrial average rallied 117.68 points hitting 24,329.16. Additionally, the S&P 500 soared 0.6% closing at 2,651.50. Besides this, the Nasdaq composite ascended 0.4% being worth 6,840.08 because stocks of Netflix, Amazon and Alphabet grew.

 

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