Asian shares march to­wards decade high

The Sun (Malaysia) - - SUNBIZ -

SYD­NEY: Asian shares marched to­wards a decade high yes­ter­day, on track for their best an­nual per­for­mance since 2009 as in­vestors bet on a bright out­look for the global econ­omy with cop­per at a four-year peak.

MSCI’s broad­est in­dex of Asia-Pa­cific shares out­side Ja­pan ad­vanced 0.8% to stay within sight of Novem­ber’s high of 570.2 points, a level un­seen since late 2007.

It has risen about 33% in 2017, thanks to im­prov­ing global growth as ex­ports boomed, sharply lift­ing cor­po­rate earn­ings. Much of the pos­i­tive im­pulse is ex­pected to ex­tend into 2018.

On the day, most Asian mar­kets joined the year-end party with South Korea’s KOSPI and China’s CSI 300 in­dex both up about 1%, and Hong Kong’s Hang Seng in­dex adding 0.7%. Jakarta’s SE Com­pos­ite In­dex ad­vanced to a record peak.

Ja­pan’s Nikkei 225 and Thai­land’s SET In­dex were the only two Asian mar­kets in the red.

MSCI world eq­uity in­dex, which tracks shares in 47 coun­tries, also held near record highs. It has surged 21.5% this year.

Trade was light across the board with many mar­ket par­tic­i­pants on hol­i­day. – Reuters

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