Asian stocks go up following global optimism
On Monday, most Asian stock markets soared amid an upbeat revision in American GDP data, which sparked expectations for a steady economic recovery.
Japanese Nikkei Stock Average ascended 0.8%, the Shanghai Composite Index grew 0.3%, the Straits Times Index surged 0.1%, while shares in Taiwan dipped 0.2%.
Meanwhile, Sinochem International Corporation offered to purchase Singapore-listed Halcyon Agri Corporation in a deal, which values the latter company at about $328.4 million. The deal will generate the world’s largest listed rubber company. Later today, Halcyon stocks will resume trading.
Friday’s data revealed that in the fourth quarter American economy surged at a 1.4% seasonally adjusted annual rate, compared to a previous estimate for one percent growth.
Financial experts point out that US weak data released earlier this year, powered fears regarding a possible downtime, but those worries are fading away. Market participants are currently focused on whether American economy is able to maintain its momentum or not.