China Shares Reach 7 Year High

After being closed for a long holiday weekend, mainland Chinese shares surged on Tuesday as investors bet on more monetary easing by the government.

The Shanghai Composite closed up 2.5% at 3,961.38 – its highest finish since March 2008.
Transportation, telecom and machinery stocks rose sharply, as investors hoped they would benefit from Beijing’s push toward overseas expansion.

In Japan, the benchmark Nikkei 225 closed up 1.25% at 19,640.54.

Shares in Japan were boosted by expectations that the Federal Reserve may put off raising US interest rates.

Weaker-than-expected US jobs figures released on Friday had boosted stocks on Wall Street on Monday.
The weak jobs data has raised hopes among investors that the US Federal Reserve will push back the timing of any interest rate rise.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza