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Asian Markets Begin the Week on Major Upswing

The indexes in Hong Kong and Shanghai are leading Asia’s huge rally in equities trading Monday as investors ignore multiple crises around the world.

The Hang Seng in Hong Kong is up 3.3% in late afternoon trading, while Shanghai is up 2.2%, despite China’s current diplomatic dispute with the United States over Hong Kong’s semi-autonomous status.

Meanwhile, the Nikkei index in Tokyo is up 0.8%, Sydney’s S&P/ASX is 0.9% higher, Seoul’s KOSPI index is up 1.7%, and Taiwan’s TSEC index is 1.2% higher.

Oil markets are trading essentially even, with U.S. crude selling at $35.47 per barrel, while Brent crude, the international standard, is $35.33 per barrel.

The Dow Jones, S&P 500 and Nasdaq are all trading in positive territory, indicating a good opening session on Wall Street despite the angry protests over last week’s death of George Floyd, an unarmed black man while in custody of police in Minneapolis, Minnesota.

 

Source: Voice of America

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