Asian shares scaled four-month peaks on Monday as investors counted on a revival in Chinese activity to boost global economic growth, even as surging coronavirus cases delayed business re-openings across the United States.
FILE PHOTO: A man wearing protective face mask, following an outbreak of the coronavirus disease , walks in front of a stock quotation board outside a brokerage in Tokyo, Japan, March 10, 2020. REUTERS/Stoyan Nenov
Eyes were on Chinese blue chips which jumped 5.4%on top of a 7% gain last week, to their loftiest level in five years. Even Japan’s Nikkei, which has lagged with a soft domestic economy, managed a rise of 1.8%. “The dollar has also been weaker over the past five days so emerging markets, led by China, normally does well on that back of that.”
The China Securities Journal wrote on Monday that China needed a bull market to help fund it a rapidly developing digital economy.
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