Trade is sluggish.
(Photo: mauritius images / age fotostock)
Frankfurt, Tokyo Investors are stocking up on Asian equities in hopes of a quick recovery of the Chinese economy from the fallout from the coronavirus pandemic. The Shanghai stock exchange gained two percent on Monday to 3287 points and Hong Kong’s leading index a good one percent to 20,965 points.
“High-frequency data shows that road congestion and public transport congestion in major cities have almost returned to normal levels,” said Hao Hong, chief economist at asset manager Grow Investment.
At the same time, the real estate market in the metropolises is recovering. According to a survey, home sales in select cities rose for the third straight week. This gave real estate stocks a boost, gaining an average of 2.5 percent.
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