Asian Equities Higher After Global Rally

Asian equities rose on Thursday following a rally in global markets overnight amid hopes for additional monetary stimulus in Europe and China.

On Wall Street, the Dow and S&P 500 jumped nearly 1 percent each while European shares rallied after weak economic data fueled hopes for more aggressive stimulus from the European Central Bank. Germany’s widely-watched Ifo business climate index came in below market expectations, with the institute forecasting the German economy would stagnate in the third quarter.

Meanwhile, reports that Chinese President Xi Jinping is considering replacing the head of the central bank also sparked expectations for looser monetary policy.

CNBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.