European shares, Asian stocks record gains - GulfToday

European shares, Asian stocks record gains

World Stocks

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Gulf Today Report 

European shares advanced on Tuesday on the hope of an economic recovery, while technology shares record gains.                               


The European technology sector rose 1.3%, while the STOXX 600 index gained 1.2%. All of Europe's major sector indexes were in positive territory in the first hour of trading.


An upbeat mood due to hope for more stimulus in the US economy in the Asian markets, positively affected the European markets.


"Markets are inclined to look through a difficult situation and climb higher on the combination of vaccines, fiscal stimulus and central banks sticking to their very accommodative monetary policies," said Russ Mould, investment director at AJ Bell.


Asian stocks  


Asian stocks traded high on Tuesday following Joe Biden’s invite to Republicans to discuss economic aid. 



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Shanghai, Tokyo, Hong Kong and Seoul benchmarks all advanced.


The Shanghai Composite Index rose 0.6% to 3,527.15 while the Nikkei 225 in Tokyo added 0.9% to 28,334.59. The Hang Seng in Hong Kong advanced 1.5% to 29,318.49.


The Kospi in Seoul was 1.4% higher at 3,098.74 and Sydney's S&P-ASX 200 gained 1.5% to 6,762.60.


India's Sensex opened up 2% at 49,585.51. New Zealand retreated while Singapore and Bangkok rose. Jakarta was little-changed.


Biden invited 10 moderate Republicans to the White House to discuss his proposed $1.9 trillion economic aid plan. Republicans earlier countered with an offer of $600 billion, or less than one-third of Biden's proposed amount.

Stephen Innes of Axi said in a report, "the sound of more stimulus, which tends to raise all boats, was music to the market’s ears.”


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