Asia shares extended their rally on Tuesday as positive factory activity surveys...
TOKYO - Asia shares extended their rally on Tuesday as positive factory activity surveys from China and the United States provided a much-needed boost to investor confidence.
Australian shares gained 0.4 percent after the Reserve Bank of Australia held interest rates steady at its April policy meeting - as widely expected.The Shanghai Composite Index and Hong Kong’s Hang Seng Index also traded higher, climbing 0.4 percent and 0.1 percent, respectively. The rare bright news for the global economy comes in the wake of persistent worries over cooling demand across the world, with the Sino-U.S. tariff war, slowing trade and subdued corporate profits prompting investors to dump risk assets over the past several months.
That selling on Monday triggered the biggest single-day jump in U.S. 10-year Treasury note yields since Jan. 4, with yields reaching as high as 2.508 percent. The British parliament failed on Monday to find a majority for any proposed alternative to Prime Minister Theresa May’s divorce deal, though support for an alternative that included a customs union was far higher than for May’s deal.
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