Asian stocks hit a record high on Wednesday as upbeat earnings, hopes of a large U.S. fiscal stimulus and a prolonged period of low interest rates fanned optimism about a global recovery from the pandemic.
European stocks are expected to open sharply higher, with Euro Stock future up 0.47% and Britain’s FTSE futures trading 0.56% higher.
MSCI’s ex-Japan Asian shares index rose 0.86%, breaking above its January peak to reach its highest level ever.
In mainland China’s CSI300 rose 2.1% to a 13-year high and the Shanghai Composite hit a five-year high on the last trading day before the week-long lunar new year holidays.
Japan’s Nikkei eked out gains of 0.19% while e-mini futures for the U.S. S&P 500 rose 0.35% after a mixed day on Wall Street as corporate earnings have been beating expectations in many places including the United States and Japan.
In the latest example, shares of Lyft Inc rose as much as 11.8% while Twitter Inc climbed 3.5% in aftermarket trading on their latest quarterly results.
-REUTERS