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Asia stocks extend rally as economic recovery hopes; STI up 1%

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SYDNEY (REUTERS) - Asian stocks rallied for their ninth straight day on Tuesday (June 9) and oil prices jumped as the lifting of coronavirus lockdowns in many countries fed investor hopes of a relatively quick global economic recovery.. Read more at straitstimes.com.

SYDNEY - Asian stocks rallied for their ninth straight day on Tuesday and oil prices jumped as the lifting of coronavirus lockdowns in many countries fed investor hopes of a relatively quick global economic recovery.

MSCI's broadest index of Asia-Pacific shares outside of Japan rose for a ninth straight session for its longest winning streak since early 2018. It was last up 0.76 per cent at a three-month peak. "The current risk rally is driven by investors' belief that the worst of this recession is behind us, which we agree with. Yet, investors need to be mindful of the potential risks ahead."

Overnight on Wall Street, the Dow rose 1.7 per cent, the S&P 500 gained 1.20 per cent and the Nasdaq Composite added 1.13 per cent.

 

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