Asian Markets Maintains Momentum for Second Straight Day

Asian markets are mostly higher Wednesday after new economic figures suggested the United States is on track for a post-pandemic recovery.    Sydney’s S&P/ASX index gained 0.8% to lead the region, and Hong Kong’s Hang Seng index is 0.3% higher in late afternoon trading.  Shanghai’s Composite index is 0.1% higher, Mumbai’s Sensex is up 0.3%, the KOSPI index in Seoul is up 0.1% and Taiwan’s TSEC is 0.2% higher.   Tokyo’s Nikkei index finished its trading session 0.5% lower.   Oil markets are in a slump Wednesday, with U.S. crude selling at $37.95 per barrel, down 1.1%, while Brent crude, the international benchmark, selling at $40.68, down 0.6%. All three U.S. indexes are trending in a positive direction Wednesday.  Wall Street ended with solid gains Tuesday thanks to new data showing U.S. retail sales rose a record 17.7% in May, the biggest one-month increase in history. 

June 17th, 2020 by
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