APR exchanges closed with growth on hopes for a global economic recovery

The main stock markets of the Asia-Pacific region (APR) closed Friday trading with rising indices against the backdrop of strengthening hopes for a recovery in the global economy as the restrictions are lifted, according to trading data.

Following the auction, the Shanghai Composite Shanghai Stock Exchange index increased by 0.4%, to 2930.8 points, the Shenzhen Composite index – 0.22%, to 1856.61 points, the Hong Kong Hang Seng Index grew by 1.7% , up to 24770.41 points, South Korean KOSPI increased by 1.43%, up to 2181.87 points. The Japanese Nikkei 225 rose 0.74% to 22863.73 points, the Australian S & P / ASX 200 – 0.12%, to 5998.7 points.

Traders hope that the global economy will embark on the path to recovery as the restrictions imposed in connection with the coronavirus are removed in different countries of the world. Also, investors are optimistic about the measures to support the economy taken in different countries. On Thursday, the European Central Bank (ECB) expanded its special asset purchase program, the Pandemic emergency purchase program (PEPP), to 600 billion euros, and its term is six months to support an economy undergoing a recession due to the coronavirus pandemic.
At the same time, market growth was limited by expectations of unemployment statistics from the world’s largest economy – the United States. According to analysts, the US Department of Labor will inform on Friday that unemployment in the country in May updated a record since 1938 and rose to the level of 19.8% from April 14.7%, while the number of jobs in non-agricultural sectors of the economy decreased by 8 million after a record drop of 20.5 million a month earlier.

“US May employment data is expected to show a surge in unemployment, which may remind the stock markets how dire the situation is in the real economy,” senior press strategist at Rakuten Securities, Mutsumi Kagawa, told France Press.

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source: rambler

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