Stocks on Asian markets rose to three-year highs today (June 10th) following series of positive news over global growth prospects.
Monetary easing by the European Central Bank and positive US employment data last week have encouraged traders to take more risks, while new Chinese inflation figures released earlier in the day brought a muted reaction.
According to Reuters, the inflation data remains well within the state's comfort zone, "giving room for the government to launch fresh stimulus measures if needed to support the economy".
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS was up 0.3 per cent after touching 493.54, its highest since June 2011.
Tokyo fell 0.85 per cent on Tuesday to finish at 14,994.80 due to a weaker yen, but Seoul surged 1.09 per cent to 2,011.80 and Sydney edged up 0.1 per cent to close at 5469.7.
Shanghai rallied 1.08 per cent to 2,052.53 and Hong Kong rose 0.86 per cent to 23,315.74.
Learn about the Asian markets and CFD trading at City Index
StoneX Financial Ltd (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.
No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.