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Shanghai Composite ends April higher, transport stocks rise ahead of Labour Day holiday

  • The Shanghai Composite Index finished 1.3 per cent higher on Thursday
  • The index rose 4 per cent in April, after a drop of 4.5 per cent in March
Topic |   Stocks Blog
INTRODUCTION

It is an uncertain spring, to paraphrase Virginia Woolf, but on Thursday, the last day of April, Asian stocks can be expected to rise, after US equities advanced overnight on signs of progress on a treatment for Covid-19, the disease caused by the novel coronavirus, as well as earnings optimism. The Hong Kong market is shut for a public holiday.
 
Nasdaq futures rose after results from Microsoft, Facebook and Tesla lifted sentiment. The S&P 500 Index earlier gained more than 2.5 per cent to touch a seven-week high. But it is positive news around potential treatments and vaccines, as well as the lockdowns being lifted that are driving markets.

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Stay with us, Martin Choi and Azar Zaidi in Hong Kong, for the day’s market news. 

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