Positive turns marked the financial markets on Monday, as stocks in Tokyo witnessed a robust performance, driven by the maritime, rubber, and pharmaceutical sectors. In the heart of the Japanese capital, the Nikkei 225 index rose by 0.84% at closing, with a notable majority of stocks closing higher, as 2694 stocks surged, while 196 remained unchanged.
In China, state-managed Xinhua Finance reported an ambitious plan to merge three of the leading investment managers, with the Ministry of Finance being the major stakeholder in these asset management companies. This move aligns with the government’s commitment to separate its roles as a regulator and a contributor to state-owned financial institutions. The step also coincides with efforts to reform financial institutions amidst a challenging economic landscape, marked by weak growth, rising local government debts, and a real estate crisis.
Meanwhile, in Australia, markets experienced a significant uplift on Monday, propelled by strong performances in the energy, real estate investment trusts, and financial sectors, recording fresh highs.
From Japan to China and down to Australia, the financial markets are on a positive trajectory, fostering optimism amidst current economic challenges.
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Shady Fouad is a technical analyst at LDN Company
Shady's strategic vision in the currency markets is reinforced by more than fifteen years of trading experience, which enables him to blend economic and technical analyzes with high efficiency, and find the best investment ideas for traders.
