Asian stocks closed higher on Friday (29), after Chinese leaders pledged to step up efforts to support the world’s second-largest economy, which is facing its worst wave of covid-19 since the beginning of the pandemic.
In mainland China, the Shanghai Composite index rose 2.41% to 3,047.06 points, and the less comprehensive Shenzhen Composite index rose 3.89% to 1,878.88 points.
According to Chinese state media, the Politburo — which brings together the leadership of the Communist Party of China — has pledged to do more to boost growth while containing the ongoing Covid-19 outbreak.
Beijing’s “zero tolerance” policy against the disease has weighed on the performance of the economy, which has been showing clear signs of slowing down.
Elsewhere in Asia, Hang Seng jumped 4.01% in Hong Kong at 21,089.39 points, South Korean Kospi rose 1.03% in Seoul at 2,695.95 points, and Taiex gained 1 .05% in Taiwan, at 16,592.18 points. The Tokyo Stock Exchange did not operate today, due to a national holiday in Japan.
Risk appetite in the Asian region also came on the heels of strong gains that New York stocks posted on Thursday, favored by positive earnings from large US companies.
In Oceania, the Australian stock market followed the movement of Asia and Wall Street, with a rise of 1.06% of the S&P/ASX 200 in Sydney, at 7,435.00 points.
With information from Dow Jones Newswires and Associated Press
Source: CNN Brasil
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