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Asian stocks jump to fresh records

Miguel A. Rodriguez
Miguel A. Rodriguez
30 December 2020
Asian shares hit a record high on Wednesday, December 30, as investors weighed in on a robust economic recovery next year.

MSCI’s gauge of Asia-Pacific stocks excluding Japan rose 0.6% to hit new highs, led by gains in Chinese shares. This year, the Asian benchmark is up 18.2%. However, Japan225 lost 0.58% on its last trading day of 2020 after reaching a 30-year high on Tuesday. For the year, the benchmark is up 15.8%.

The Euro Stoxx 50 futures were down 0.2% on the European markets, while UK100 dropped 0.1%. In the United States, the USA500 rose 0.41%, erasing losses recorded the previous day.

The U.S Dollar falls, other gain

In the currency markets, the U.S Dollar retreated as investors started to dump the safe-haven U.S. currency after the latest developments. The U.S. dollar index lost 0.25%, reaching 89.798, having hit a 2,5 year low of 89.711 at one point.

The Euro rose 0.3% to $1.2295, the highest level since April 2018. The AUD rose 0.6% to $0.7663, hitting a two-and-a-half-year-old high, while GBP traded up 0.30% at $1.3556. The JPY also gained 0.15%.

Gold and oil benefit from weaker Dollar

The Dollar's problems offered support to gold, with bullion prices up 0.14% at $1,880.70 an ounce. Oil prices extended gains too, with Crude up 0.21% at $48.10 a barrel.


This information/research prepared by Miguel A. Rodriguez does not take into account the specific investment objectives, financial situation, or particular needs of any particular person. The research analyst primarily responsible for the content of this research report, in part or in whole, certifies that the views about the companies and their securities expressed in this report accurately reflect his/her personal views and consequently any person acting on it does so entirely at their own risk.The research provided does not constitute the views of KW Investments Ltd nor is it an invitation to invest with KW Investments Ltd. The research analyst also certifies that no part of his/her compensation was, is, or will be, directly, or indirectly, related to specific recommendations or views expressed in this report.The research analyst in not employed by KW Investments Ltd. You are encouraged to seek advice from an independent financial adviser regarding the suitability of the investment, under a separate engagement, as you deem fit that conforms to your specific investment objectives, financial situation, or particular financial needs before making a commitment to invest. The laws of the Republic of Seychelles shall govern any claim relating to or arising from the contents of the information/ research provided. 

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Miguel A. Rodriguez
Miguel A. Rodriguez
Financial Writer

Miguel worked for major financial institutions such as Banco Santander, and Banco Central-Hispano. He is a published author of currency trading books.