Asian shares vaulted to six-month highs on Tuesday
Asian shares vaulted to six-month highs on Tuesday, surpassing their July peaks, as hopes that Washington may roll back some of the tariffs it has imposed on imports from China shored up optimism on the global economic outlook.
- MSCI’s broadest index of Asia-Pacific shares outside Japan (MIAPJ0000PUS) gained 0.5% to reach levels last seen in early May, led by gains in Chinese shares.
- The CSI300 of mainland Chinese shares (CSI300) jumped 1.3%.
- Taiwanese shares (TWII) gained 0.4% to near three-decade highs while Japan’s Nikkei (N225) rose 1.34% to a one-year peak after a market holiday on Monday.
- The bright mood in Asia is seen extending into the European morning, with pan-European Euro Stoxx 50 futures (STXEc1) up 0.3%.
- German DAX futures (FDXc1) 0.21% higher, and FTSE futures (FFIc1) gaining 0.49%.
- U.S. S&P500 futures (ESc1) gained 0.2% in Asia.
- The dollar gained 0.2% on the yen to 108.80 , extending its recovery from 107.89 touched on Friday.
- The euro was little changed at $1.1126 (EUR=), off last week’s high of $1.1175.
- The Australian dollar tacked on 0.2% to $0.6900.
- U.S. West Texas Intermediate (WTI) crude (CLc1) traded at $56.62 per barrel, up 0.14% after having hit a six-week high of $57.43 on Monday.
- International benchmark Brent (LCOc1) gained 0.23% to $62.27 per barrel.