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.