Global stocks stood near record highs on Friday after strong U.S. and Chinese economic data cemented expectations of a solid global recovery from the coronavirus-induced slump.
European shares are expected to inch higher, with Euro Stoxx futures up 0.1% and Britain’s FTSE futures slightly higher.
MSCI’s broadest index of Asia-Pacific shares outside Japan was last up 0.25%, with Shanghai shares adding 0.6%. Japan’s Nikkei ticked up 0.1%.
MSCI’s broadest gauge of world stocks ticked up 0.05% by late Asian trade, staying just below Thursday’s record peak. “Markets look ahead to economic normalisation as vaccines will go around. Stock prices are likely to rise gradually while looking at upcoming earnings,” said Tomo Kinoshita, global market strategist at
Invesco Asset Management in Tokyo. Markets in Asia were largely steady after China reported record 18.3% growth in the first quarter, though the reading slightly undershot expectations, while retail sales bounced strongly last month.
