Regional markets rally

Business | 22 Jul 2021 10:56 am

Asian stocks rallied on Thursday, bonds nursed losses and oil held onto sharp gains as investors seemed to set aside virus jitters for now and looked ahead to the European Central Bank for reassurance that policy support will continue for some time, Reuters reports.

MSCI's broadest index of Asia-Pacific shares outside Japan followed Wall Street higher and gained by 1 percent with broad gains from Sydney to Seoul and Hong Kong.

Japanese markets are closed until Monday.

There was no obvious catalyst for the recent rebound in stocks, or the drawdown on Friday and Monday, though a study on Wednesday showed both Pfizer and AstraZeneca vaccines were effective against the Delta coronavirus variant.

 



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