Asian shares gain on accommodative rates

Asian share markets placed near a 1-1/2 year peak on Monday, with investors’ sentiment greatly fueled by expectations that monetary policies across the globe will remain accommodative. More so, vaccine rollouts partly mitigated coronavirus-driven fears.  

MSCI’s broadest index of Asia-Pacific shares outside Japan was last seen at 695.59, placing just below its 696.48 record on Friday. The index traded 1.2% higher last week to record a 5% increase so far this year.

Australian shares gained 0.25%, while New Zealand’s benchmark index and South Korea’s KOSPI both advanced 0.4%. Japan’s Nikkei dwindled 0.4%.

Investors are waiting for IBM and Coca-Cola’s earnings report later on Monday, while Netflix will follow suit on Tuesday. Come Thursday, the European Central bank will then meet without any plan to change its existing monetary policy.