Tokyo — Asian shares ticked up on Monday, joining a global recovery for equity markets. Sentiment has improved gradually after a recent shakeout that stemmed from fear of creeping inflation and higher borrowing costs. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.4%, having recovered more than 40% of their losses from late last month to last week’s low. Japan’s Nikkei gained 1.2%. Trading is expected to be slower than usual due to market holidays in the US, China and Mumbai. On Wall Street on Friday, the S&P 500 index rose marginally to mark its biggest weekly increase in five years, although earlier gains evaporated after a 37-page indictment filed by US Special Counsel Robert Mueller charged 13 Russians and three Russian companies for meddling in the 2016 US presidential election. MSCI’s index of stock markets across the globe gained 4.3% last week, the best weekly performance since December 2011. The rebound came after a two-week rout that wiped off more than ...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.