REVIEW: Concerns over a growing health crisis in the world’s largest economy is largely being offset by expectations that markets will be awash with liquidity as major central banks pull out all the stops in reinvigorating the global economy.
While US economic data has proven more resilient than expected, Beijing has hinted that it will engage its best efforts to prop up its equities market.
The confidence in the equities is set to rise further. On the S&P500, a “golden crossing” took place on Thursday night, serving as a strong indication of a bullish outlook. This comes on the back of the Nasdaq’s golden crossing in June, leaving only the Dow Jones Industrial Average to follow suit.
Meanwhile, China’s benchmark index put on a gravity-defying performance this past week, on the heels of encouragement from Chinese state media to pool into shares and reap the supposed rewards of a post-pandemic recovery.
CLICK TO ENLARGE
...