The US markets were closed on Monday 15th Feb 2021, for Presidents Day. Last week the S&P500 and Nasdaq reached high records again.
The Asian markets hit record highs overnight as the coronavirus vaccines rollout continues to increase hopes of a rapid economic recovery. As per Yahoo Finance, it was also fuelled by new fiscal aid from Washington, while oil prices increased on heightened tension in the Middle East.
MSCI’s largest index of Asia-Pacific shares outside Japan jumped 0.57%. As for Japan’s Nikkei 225 index, it closed above 30,000 points for the first time since 1990, after the country’s economy recorded another quarter of double-digit annualised growth to best expectations.
Japan’s economy expanded more than what was expected in the fourth quarter, extending its recovery from its worst post-war recession. It happened mostly because overseas demand boosted capital expenditure and exports.
Being the world’s third-largest economy, Japan grew an annualised 12.7% in October-December according to the government data. It marked the second consecutive quarter of increase and exceeding a median market forecast for a 9.5% gain.
As for China and Hong Kong, the markets are closed for the Lunar New Year holiday.