Regional markets touch new highs

Business | 12 Sep 2019 2:41 pm

Asian stocks advanced to a six-week high today on hopes for a thaw in U.S.-China trade relations and expectations that the European Central Bank would kick off another wave of monetary easing by global central banks.

Investors drew encouragement from China’s decision to exempt some U.S. products from a recent round of tariffs. 

MSCI’s broadest index of Asia-Pacific shares outside Japan was up by 0.5 percent.

In tokyo, the Nikkei share average added 0.75 percent to 21,759.61, while the broader Topix advanced by 0.72 percent to 1,595.10, both reaching their highest since early May.

It was the eighth straight day of gains for the Nikkei, during which it has risen 5.5 percent. In another positive sign, in dollar terms, the Nikkei raced to its highest levels since October.

 Australian shares were up by 0.2 percent.

 

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