Magellan’s chief investment officer Hamish Douglass has defended the group’s approach to diversifying operations and predicts key stakes in loss-making companies will come good.
Stocks shrug off virus worries; ECB in focus
By Tom Westbrook
Reuters
SINGAPORE (Reuters) - Asian stocks rallied on Thursday, bonds nursed losses and oil held onto sharp gains as investors seemed to set aside virus jitters for now and looked ahead to the European Central Bank for reassurance that policy support will continue for some time.
MSCI s broadest index of Asia-Pacific shares outside Japan followed Wall Street higher and rose 1% with broad gains from Sydney to Seoul and Hong Kong. Japanese markets are closed until Monday.[.AX][.KS][.HK]
There was no obvious catalyst for the recent rebound in stocks, or the drawdown on Friday and Monday, though a study on Wednesday showed both Pfizer and AstraZeneca vaccines were effective against the Delta coronavirus variant.
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SINGAPORE, July 22 (Reuters) - Asian stocks rallied on Thursday, bonds nursed losses and oil held onto sharp gains as investors seemed to set aside virus jitters for now and looked ahead to the European Central Bank for reassurance that policy support will continue for some time.
MSCI s broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS) followed Wall Street higher and rose 1% with broad gains from Sydney (.AXJO) to Seoul (.KS11) and Hong Kong (.HSI). Japanese markets are closed until Monday.
There was no obvious catalyst for the recent rebound in stocks, or the drawdown on Friday and Monday, though a study on Wednesday showed both Pfizer and AstraZeneca vaccines were effective against the Delta coronavirus variant. read more
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