Home Stock & Shares Asian stocks hold their ground with few cues to trade off

Asian stocks hold their ground with few cues to trade off

by Jonathan Adams

Asian stocks held their ground on Tuesday although Chinese equities surged to a fresh two-month high as domestic funds piled into financial counters on the expectation the world’s second-biggest economy may have turned a corner.

MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.2% on Tuesday and held below a 19-month peak hit last Thursday. The index is up more than 11% since December 23, which marked the trough in a sell-off triggered by Donald Trump’s surprise win at the US election in November.

With US markets closed for the Presidents’ Day on Monday, Asian markets have had few global cues off which to trade.

Chinese stocks led regional gainers with mainland indices extending a nearly 7% rise over the past month thanks to an influx of fresh funds from domestic institutional investors and a brightening outlook for the domestic economy.

Important
This article is for information purposes only.
Please remember that financial investments may rise or fall and past performance does not guarantee future performance in respect of income or capital growth; you may not get back the amount you invested.
There is no obligation to purchase anything but, if you decide to do so, you are strongly advised to consult a professional adviser before making any investment decisions.

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