MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.6%, after US stocks ended the previous session with gains.
A better night on Wall Street provided the positive lead for Asian markets with a sharp rebound in sentiment for US stocks. The variant, first detected last month, is causing infections to double in 1.5 to 3 days, according to the World Health Organisation.However, Asian investors were mostly overlooking the current rise in case numbers. “Clients are still happy to buy here despite the obvious risks both market- and health-related, mostly they are adding to their existing positions,” said John Milroy, an Ord Minnett advisor in Sydney told Reuters.
“I would say investors are looking through the case numbers as long as production capacity in China is not impacted,” he told Reuters.
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