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Asian shares hit a record high yesterday with investors betting on a strong economic recovery next year, as there is little sign policymakers wind back massive stimulus efforts aimed at staving off coronavirus-fuelled downturns.
MSCI’s gauge of Asia-Pacific shares excluding Japan rose 1,2 percent to hit a record high, led by gains in Chinese shares and bringing its gains so far this year to 18,9 percent.
Japan’s Nikkei share average lost 0,45 percent on its last trading day of 2020 after jumping to a 30-year high on Tuesday. For the year, it was up 16 percent.
European shares are seen dipping slightly with Euro Stoxx 50 futures down 0,2 percent and FTSE futures losing 0,1 percent.
Convictions that global monetary authorities will continue to pump liquidity into the banking system to support the pandemic-stricken economy underpin risk assets. — Online.
Online Reporter