By Chris Becker
Equity markets continue to fully price in a V-shaped recovery and are about to return to their pre-COVID19 highs, as Wall Street rallied overnight to a three month high following the good start to the week here in Asia. Australian markets will reopen today and likely continue the orgy of buying as iron ore prices lift once more, taking the Aussie dollar above 70 cents.
Looking at share markets in Asia from yesterday’s session where the Shanghai Composite started the week with a small up session, finishing 0.25% higher to 2937 points, while the Hang Seng Index didn’t go anywhere, finishing where it started at 24773 points. This keeps price just above the previous sideways highs from April as this market gets ready to continue the breakout:
