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Shares in Asia hit fresh 7-month high, US GDP data awaited

MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.9% to 557.65 and was set for its fifth straight day of gains.

January 26, 2023 / 11:46 AM IST
Asian markets

Asian markets

Asian equities rose to a fresh seven-month high on Thursday, with Hong Kong shares playing catch-up to other markets' gains as trade resumed after its three-day Lunar New Holiday.

MSCI's broadest index of Asia-Pacific shares outside Japan climbed 0.9% to 557.65 and was set for its fifth straight day of gains.

The index has gained 10% so far in January, buoyed by expectations of a strong economic rebound in China and by hopes that most major central banks are nearing an end to hefty rate rises.

Trading was thin on Thursday with Australia closed for a holiday and certain parts of Asia, including China, still away for the Lunar New Year.