After three days with the negative sign, le Exchanges in the Asian area they resumed their run, awaiting data on US employment. The recovery was led by the healthcare and consumer-discretionary sectors. The European Central Bank cut interest rates to record lows, with scope for further cuts, galvanizing stock markets. Growing day for commodities, while the US dollar weakened against the main currencies.
The regional index MSCI Asia-Pacificexcluding Japan was up 0,2% as of 12:02 in Hong Kong. The Shanghai Composite rallied 1,8% and began a rally from the lows of the past four months. Bucking the trend, the FTSE Bursa Malaysia KLCI index slipped 0,7% ahead of the general election scheduled for May 5th. The Japanese markets were closed for a holiday. On the currency front, the US dollar lost against the major currencies.
“The market is much less concerned about the fate of the European economy,” said Shane Oliver, head of investment strategy at AMP Capital Investors in Sydney. “Profits are up and we remain overweight equities for the next 12 months. Ratings are still good."
http://www.bloomberg.com/news/2013-05-03/asian-stocks-advance-with-industrial-metals-on-u-s-jobs-ecb.html
