Asian shares fuel global upswing to 7th day

Asian shares’ upbeat performance boosted global equities, marking their seventh day of rally on Friday. Investors’ enthusiasm was mainly from hopes that the United States will push the world out of the coronavirus crisis as the country plans to render a multi-trillion dollar stimulus package.

MSCI’s broadest index of Asia-Pacific shares outside Japan hiked 0.3% to reach its strongest level this month. Tokyo shares came as the biggest advancer, while Japan’s benchmark index Nikkei traded 1.9% higher. Chinese blue chips, however, bucked the upswing to record a 0.1% decline during their early trade.

The series of gains across the region sent MSCI’s world equity index 0.1% higher, just below its all-time closing high of 710.36. Aided by the prospect of a massive spending in the United States, world equities marked their seventh day of increase even as inflation pressures threatened the bull market.