SYDNEY : Asian shares edged higher on Monday as demand for tech stocks buoyed Japan's market, while a data-packed week promises to be pivotal in the outlook for the Chinese economy and U.S. interest rates.China's recovery has so far disappointed high expectations and the Caixin manufacturing survey due la
SYDNEY : Asian shares edged higher on Monday as demand for tech stocks buoyed Japan's market, while a data-packed week promises to be pivotal in the outlook for the Chinese economy and U.S. interest rates.
In contrast, Japanese stocks have been going gangbusters as an influx of offshore buying lifted the Nikkei almost 20 per cent last quarter, spurred by a weak yen and hopes of Japanese firms filling any gaps created by Sino-U.S. decoupling. Early Monday, the index was up another 1.2 per cent and close to recent peaks.
The high-flying tech sector could get another boost from news Tesla delivered a record 466,000 vehicles in the second quarter, topping market estimates of around 445,000. Minutes of the Fed's last policy meeting are out on Wednesday and will expand on why they decided to pause, though most policy makers also expected to hike at least two more times by year end.
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