受此推动，多个亚洲股指均在尾盘阶段持续上涨，即将在周五揭开新首相谜底的日经225指数周四收涨2.79%，1. Boosted by the bullish policies from china and the soaring assets, the Asia-Pacific and European and American markets all rose together; 2. In terms of external environment, since the Federal Reserve initiated interest rate cuts last week, the risk appetite in the Asian region has been continuously increasing, and the market is currently expecting another 50bp rate cut at the next Federal Reserve decision.
The significant economic stimulus signal released by China is triggering a warm response in the global capital markets.
As of the time of publication, the SSE Composite Index surged with a '7-day winning streak', reclaiming the 2700, 2800, 2900, and 3000 points levels successively in the past week.
Driven by this, multiple Asian stock indices continued to rise in the late trading session, with the Nikkei 225 index, which will unveil the mystery of the new prime minister on Friday, closing up 2.79% on Thursday, marking a new closing high since July this year. The Korea Composite Index surged by 2.9%, while the technology-focused KOSDAQ index rose by 2.62%.
(Nikkei 225 index daily chart, Source: TradingView)
Hong Kong stocks also saw significant gains, with the Hang Seng Index soaring by 4.12% in the closing session, and the Hang Seng Tech Index rising by 7.17%.
Although the Australian stock market closes relatively early, the Australian dollar exchange rate also experienced a rapid surge after 1:00 PM Beijing time.
(AUDUSD minute chart, Source: TradingView)
IG Markets analyst Hebe Chen interpreted that the Asian markets are immersed in an optimistic mood, thanks to china's extraordinary and all-out efforts aimed at boosting economic momentum for the National Day Golden Week and the year-end. Following the Fed's rate cut last week, the risk appetite in the Asian region has generally strengthened.
Regarding the series of stimulus policies introduced by China this week, Wong Kok Hoong, the institutional securities sales trading manager at Maybank Securities, said: "Personally, I suggest increasing positions, especially in large-cap stocks that track indexes: internet companies, technology, and insurance. Considering the insufficient allocation of H shares/A shares, this rebound may be broad."
Even Wall Street, which was asleep, is feeling the influence from the East. As of 3:50 pm Beijing time, the Nasdaq 100 index futures (2412 contract) rose by 1.5%, and the S&P 500 index futures also increased by nearly 0.8%. Before the U.S. stock market opens today, the market will hear a pre-recorded speech by Federal Reserve Chairman Powell.
In addition to Powell, the Federal Reserve's most closely watched inflation indicator - the PCE price index will also take the stage in the next two days. After last week's aggressive 50 basis points rate cut by the Fed, the market is already expecting a further 50 basis points cut in the November meeting, further opening the tap for global economic stimulus.
(Source: CME "Fed Watch")
The European markets, which just opened, are also in a cheerful state, with the Euro Stoxx 50 index rising by nearly 1.5%, the German DAX index, and the French CAC 40 index both up by over 1%. Louis Vuitton Moet Hennessy Group (LVMH), which has deep ties to the china consumer market, jumped over 4% at the opening, and Porsche rose by over 2%.
(Source: investing)
