Asian shares inch higher on growing economic optimism

Asian shares kept their momentum, extending their winning streak for nine consecutive sessions on Tuesday. Moreover, oil prices advanced as lockdown easing in many countries made investors enthusiastic over a relatively fast economic recuperation.

MSCI’s broadest index of Asia-Pacific shares outside Japan has retained its performance, adding another strong session to its longest winning streak since early 2018. It advanced 1% at three-month highs and has soared 35%, recovering from four-year lows monitored in March.  

Euro STOXX 50 futures STXEc1 advanced by 0.4% and DAX futures FDXc1 jumped by 0.3%, indicating that European markets were on course for a positive finish. U.S. S&P 500 futures Esc1 eased 0.15%.

Increased level of optimism for equity markets came last week after U.S. jobs data revealed an unexpected decline in unemployment. This drove Wall Street up as Nasdaq.IXIC closed at a record level on Monday.