Asian stocks gain on Stimulus hopes, pound hits six-week high


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Asian stocks gain on Stimulus hopes, pound hits six-week high

On Monday, the 9th of September 2019, a stockpile of Asian stocks rallied, while Hong Kong managed to round off the day a penny down following a plain-view resolution of multi-month protests, as investors appeared to ramp up their hopes on an en masse monetary injection from major Central Banks including Peoples’ Bank of China alongside Germany’s Central Bank.

Meanwhile, the British currency hit its one and a half months peak to $1.2385 against its American counterpart as possibilities of a no-deal Brexit appeared to be waning and an extension of Brexit deadline up to January 31st seemed to be more likely, while euro edged higher on German fiscal stimulus hope.

Nonetheless, adding that Monday’s (September 9th) gains would likely to be short-lived unless Washington and Beijing could resolve their deep differences on trade, a chief investment officer at the UBS Global Wealth Management, Mark Haefele said on Monday’s (Sept.

9th) Asia-Pacific market wrap-up, “If all the currently proposed tariffs are implemented, we foresee that growth in the first half of next year will slow toward the brink of a recession. ” Citing statistics, on Monday’s (Sept.

9th) market closure, MSCI’s broadest index of Asia-Pacific shares outside Japan gained 0.2 per cent, while E-mini futures for S&P 500 index had been up by 0.25 per cent. Aside from that, Japan’s Nikkei added 0.56 per cent to wrap up the day at 21,318.42 and Hang Seng closed Monday (Sept.

9th) market little changed at 26,681.50, while Bombay stock exchange rose 0.44 per cent to 37,145.45 and mainland Shanghai’s SSE 50 index winded down the day a dime up to 2,981.59. Echoing leads of most of the Asian markets, Australia’s ASX 200 wrapped up the day 0.01 per cent up to 6,648.00 and New Zealand’s NZ50 fell 0.14 per cent to round off Monday’s (Sept. 9th) market at 11,202.93, while South Korea’s KOSPI gained 0.52 per cent to 2,019.55.