Asian shares are mostly stronger amid economic recovery hopes

Markets in Asia grind higher, except in Australia where a surge in infections put pressure on bank and travel shares

People walk past an electronic board showing Japan's Nikkei average and the yen’s exchange rate against the dollar outside a brokerage in Tokyo, Japan. Picture: REUTERS/TORU HANAI

The euro’s rally was triggered by EU leaders striking a deal for a region-wide rescue plan, a huge step towards both recovery and a stronger union. “It’s given the euro that afterburner, and it’s true for the Aussie as well ... it went for broke once the dollar started unravelling.” Sliding real bond yields have added to the lustre of precious metals, at the same time that industrial demand has put silver on a tear. Spot prices for the metal, used in solar systems, rose 5% on Wednesday and are up 15% for the week.

Republicans and Democrats are at loggerheads over the size of the next fiscal relief package as a month-end “fiscal cliff” deadline for extending unemployment insurance looms.

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BDliveSA /  🏆 12. in ZA

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