Indices Stock Market

Asian Stock Market at Two Year Top After China Advances

Asian stock market at two year top after China advances

On Monday, Chinese share market propelled the Asian share market to its two year high, with China’s CSI300 surging 2%, Hong Kong’s Hang Seng advancing 1.5%, and MSCI Asia-Pacific stocks outside Japan rising 0.8% to reach its 2.5 years high point. However, the investors are suggested to be cautious about the future of US economic package, which kept the dollar stable.

Japan’s Nikkei plunged 0.3% as investors continued to be anxious about corporate profits. Meanwhile, China recently witnessed amid-autumn eight-day festival, which encountered a boost in tourism for the nation and a data showing decreasing corona cases, thus, boosting traders’ confidence.

While USA’s leading index, S&P 500, is 8% up this year, China’s blue-chip is already running at 17% gain for 2020, with Chinese government bonds purchase by foreigners touches the fastest speed last month since last two years.

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