Asian stocks go up as risk appetite gets back

Asian stocks go up as risk appetite gets back

On Tuesday, Asian equities soared, following the return of risk appetite, generated by a recent centrist win in the first round of the French presidential election. It pushed several regional markets to multi-year peaks, while the common currency retained most of its overnight revenues.

Safe-haven assets, including the Japanese yen and gold were still under pressure, while the Canadian dollar edged down after America announced fresh duties averaging 20% on Canadian softwood lumber imports. As a matter of fact, the Canadian currency declined to a four-month minimum as the greenback strengthened 0.4% to C$1.3554.

MSCI's broadest index of Asia-Pacific stocks outside Japan added 0.35%, hitting its highest value in more than three weeks and marking four straight days of revenues.

Japan's Nikkei N225 gained 0.8%. South Korea's KOSPI KS11 soared 0.4% to the highest value since April 2015 right after the second-largest company on the index, SK Hynix posted a record first-quarter revenue.

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