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Asia-Pacific Shares Weekly Recap: Supported Across the Board by US Stimulus HopesJapanese shares ended higher last week, helped by strong domestic earnings. Hong Kong stocks posted their best weekly performance in three months.
Feb 07, 2021 03:39 PM GMT
The major Asia-Pacific stock indexes finished higher last week, tracking the performance of the Wall Street’s Big Three – S&P 500, Dow Jones Industrial Average and NASDAQ Composite. The primary catalyst behind the strength in the region were signs of progress in U.S. stimulus talks. Strong performances by a few local issues also contributed to the rally.
Weekly Cash Market Performance
In Japan, the Nikkei 225 Index settled at 28779.19, up 1115.80 or +4.03%. South Korea’s KOSPI Index finished at 3120.63, up 144.42 or +4.85% and Hong Kong’s Hang Seng Index closed at 29288.68, up 1004.97 or +3.55%.