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Friday, May 3, 2024

Hopes for recovery help Asian markets start new year with a pop

While most Asian markets have started the year on a positive note, Tokyo stocks have been hit by concerns a state of emergency could be called in the capital as the virus surges.

HONG KONG: Optimism about the economic outlook in 2021 helped Asian investors kick off the new year Monday on a positive note, as hopes surrounding the rollout of coronavirus vaccines offset a frightening surge in infections.

With uncertainty over Brexit and a new US stimulus gone, sights are now on the economic recovery from the calamity that was 2020, with a broad expectation that countries will enjoy strong rebounds as life gets back to some semblance of normal.

Vast amounts of government and central bank cash have been a crucial driver of a global rally in equities from their March troughs, and analysts expect those loose…

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