Asian stocks climbed in June; posted best gain in five months

02 Jul, 2019

Asian stocks climbed in June after sharp falls the previous month, with investor sentiment buoyed by expectations of monetary easing by major central banks and hopes for a thaw in strained Sino-US trade ties.
The MSCI's broadest index of Asia-Pacific shares, gained 5.05% in June, after declining 6.2% in May. Last month's gain was index's best since January.
Slowing US exports and softer job growth raised hopes that the Federal Reserve would cut interest rates as soon as its July meeting, which prompted investors to look for higher returns outside.
In June, equities markets in Thailand, Singapore and Hong Kong all gained between 6% to 7%. Bucking the trend, Indian and Vietnamese markets fell over 1% during last month.

Read Comments