Asia gets the new quarter underway with a sense of optimism and momentum buoying world markets.
Workers direct a crane lifting ductile iron pipes for export at a port in Lianyungang, Jiangsu province, China June 30, 2019. REUTERS/Stringer/File photoAsia gets the new quarter underway with a sense of optimism and momentum buoying world markets on the back of surprisinglyand a growing belief that risky assets can withstand 'higher for longer' global interest rates.
World stocks rose almost 13%, Japan's Nikkei surged 27% - reaching fresh 33-year peaks in the process - but MSCI's Asia ex-Japan index rose only 1.65% in dollar terms. Blue chip Chinese stocks slipped 0.75%.Friday's rally on Wall Street Purchasing managers index reports on Monday from across the Asia-Pacific region, including China, India, South Korea and Australia, will give the first glimpse into private sector services and factory activity in June.
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