Asian shares climbed to a seven-month peak on Wednesday tracking the S&P 500, which scaled all-time highs driven by ever expanding policy stimulus aimed at cushioning the blow to economies from the coronavirus pandemic.
FILE PHOTO: A man walks past an electric screen showing Japan's Nikkei and Shanghai Stock Exchange markets' indices outside a brokerage in Tokyo, Japan, July 1, 2019. REUTERS/Issei Kato
Overnight, both the S&P 500 and Nasdaq Composite set records soon after the opening bell following strong sales growth reported by major U.S. retailers including Walmart, Kohl’s and Home Depot. Market optimism was also buoyed by data showing an acceleration in U.S. homebuilding to the most in nearly four years in July, signifying that the housing sector is emerging as one of the few areas of strength.
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