(Bloomberg) — Asian shares rose Monday as positive momentum from gains on Wall Street and signs of moderating US inflation extended this year’s rally in global stocks. The yuan gained after China’s central bank set a stronger-than-expected fix for the currency.
Most Read from Bloomberg
Equities in Shanghai gained more than 1% while Hong Kong-listed technology companies jumped over 3%. Shares of Asian electric-vehicle makers and related suppliers also climbed, benefiting from Tesla Inc. and BYD Co. setting sales records in the second quarter.
Japan’s Topix index was on course for another gain that has the index repeatedly setting fresh highs back as far as mid 1990 amid improved confidence among big manufacturers.
The gains in Chinese stocks Monday contrast with the 6% drop in MSCI Inc.’s China Index in the first half. While many investors remain wary of policy risks and Chinese tepid economic rebound, some are pointing at attractive valuations.
“We’re still positive on the…
2023-07-02 22:37:21
Article from finance.yahoo.com
rnrn
(Bloomberg) — Asian shares rose on Monday as positive momentum from gains on Wall Street and signs of moderating US inflation extended this year’s rally in global stocks. The yuan gained after China’s central bank set a stronger-than-expected fix for the currency.
Most Read from Bloomberg
Equities in Shanghai gained more than 1% while Hong Kong-listed technology companies jumped over 3%. Shares of Asian electric-vehicle makers and related suppliers also climbed, benefiting from Tesla Inc. and BYD Co. setting sales records in the second quarter.
Japan’s Topix index was on course for another gain that has the index repeatedly setting fresh highs back as far as mid 1990 amid improved confidence among big manufacturers.
The gains in Chinese stocks Monday contrast with the 6% drop in MSCI Inc.’s China Index in the first half. While many investors remain wary of policy risks and Chinese tepid economic rebound, some are pointing at attractive valuations.
“We’re still positive on the…
2023-07-02 22:37:21
Article from finance.yahoo.com
rnrn