In the world of finance, equities continued their upward trend on Monday, following a record high close for the Dow in New York. This surge in optimism was fueled by China’s plan to support its struggling property sector and hopes for a US interest rate cut.
Despite concerns that the package announced by Beijing may not be sufficient to solve the sector’s woes, traders remained confident in risk assets. Nomura Holdings analysts believe this is just the beginning of efforts to turn the property market around.
Markets across Asia, including Hong Kong, Shanghai, Tokyo, and Sydney, saw gains, with Bangkok also making slight progress. In London, Paris, and Frankfurt, markets opened on a positive note following the Dow’s milestone achievement.
Investors are eagerly awaiting the release of minutes from the Federal Reserve’s May policy decision, hoping for insights into future rate cuts. The prospect of lower borrowing costs sent gold prices soaring to a new record, while copper also hit a high on optimism for the global economy.
With various key figures on the rise and the financial landscape buzzing with activity, it’s a dynamic time for investors to stay informed and capitalize on the shifting trends.