Asian shares approached their July peak on Tuesday on signs the United States an...
In Europe, shares rallied more than 1%, with many reaching their highest level since January 2018. The STOXX 600 index of small, mid-sized and large companies across Europe surged to highs last seen in July 2015.
“Economic uncertainties are receding. That means those who had held off their activities, both in the real economy and financial markets, are getting active,” said Masaru Ishibashi, joint general manager of trading at Sumitomo Mitsui Bank. “The data suggests the U.S. is almost in a full employment. More importantly those strong numbers came after three rate cuts by the Fed,” said Norihiro Fujito, chief investment strategist at Mitsubishi UFJ Morgan Stanley Securities.
Trade optimism kept the Chinese yuan near its highest levels since mid-August, with the onshore yuan at 7.0259 per dollarThe currency maintained gains even after China’s central bank cut its one-year medium-term lending facility rate by 5 basis points, for the first time since early 2016.
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