Asia-Pacific exchanges mainly grow in the hope of a global economic recovery

Major stock indexes in the Asia-Pacific region (APR) on Tuesday mainly grow in the hope of a recovery in the global economy after the pandemic, according to trading data.

As of June 8, Moscow time, the Shanghai Composite Index fell 0.11% to 2912.09 points, the Shenzhen Composite Index fell 0.14% to 1840.42 points. The Hong Kong Hang Seng Index grew by 0.38% to 23823.03 points, the Japanese Nikkei 225 index – by 1.16%, to 22317.33 points, the South Korean KOSPI – by 0.81%, to 2081.71 points, the Australian S & P / ASX 200 – by 0.4%, up to 5842.3 points.

In Asian markets, the week began with an increase in risk sentiment on the basis of general optimism, which is caused by the gradual recovery of economic activity in the world after a sharp decline due to the coronavirus pandemic.

Markets also welcomed the fact that US President Donald Trump has so far reacted to tightening China’s control over Hong Kong with only threats, not new sanctions. However, most Chinese investors prefer to be careful, fearing for the prospects of a bargain between countries.

Robert Carnell, chief economist for the APR region of ING Bank, whose opinion is quoted by the Associated Press, warns against over-optimism, given the tensions between the U.S. and China, the unrest in Hong Kong and the U.S. and the uncertainty about the introduction of the COVID-19 vaccine. “How long can markets stay afloat? I don’t know,” the analyst said.

Investors also drew attention to the decision of the Central Bank of Australia, which kept the base rate at 0.25%.

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source: rambler