Asian shares’ rally enters third day, on high hopes for US corporate earnings
Currency markets were focused on the resignations of Boris Johnson and David Davis from Theresa May’s cabinet, which put the pound on the back foot
Sydney — Asian shares rallied for a third session on Tuesday, as hope for upbeat corporate earnings buoyed Wall Street. In currency markets, several high-profile resignations from Britain’s government kept sterling on the defensive. MSCI’s broadest index of Asia-Pacific shares outside Japan put on 0.4% in early trade, adding to a 1.3% rise on Monday. Japan’s Nikkei climbed about 1% and South Korea’s Kospi was up 0.5%, while E-mini futures for the S&P 500 firmed 0.2%. Chinese shares were a bit soft with Shanghai blue chips off 0.2% after climbing 2.8% on Monday — their biggest daily jump since August 2016. Both the Dow Jones industrial average and the S&P 500 boasted their biggest gains in more than a month overnight, as bank shares jumped ahead of earnings reports later this week. The S&P banks index posted its sharpest rise since March 26. The Dow rose 1.31%, while the S&P 500 gained 0.88% and the Nasdaq 0.88%. "Many investors are looking ahead to second-quarter earnings season, wh...
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