A little update before European equity cash market opens
European equity futures are sending signals that a likely positive day awaits European stocks today. While we await the open, here's how other equity indices in Asia Pacific have been performing today:
- Nikkei - closed
- Hang Seng +0.12%
- Shanghai Composite +0.52%
- CSI 300 +0.52%
- Kospi +0.63%
- ASX 200 +0.13% (10-year high)
Indices in China, Hong Kong, and Taiwan started the day lower but rebounded thereafter. The Hang Seng index in particular got a major boost from Country Garden shares as it is so far up 7% on the day - the rise in its share price this year has led to its vice chairman being the fifth richest person in China. Last week we also saw the Nikkei close above the 23,000 mark for the first time since January 1992.
Meanwhile, on Friday we saw Wall Street's three major indices close the week with record highs once again. The first week gains saw the S&P500 had its best start to the year since 2006, while the Nasdaq saw the best start since 2003.
So far, there are no clear signs of the party stopping - and that will add to the fuel for investors to continue things the way it is for the time being. As they say, what you don't know won't hurt you - or in other words, ignorance is bliss.
