Tokyo shares surged 1.68 percent on Thursday, tracking overnight gains on Wall Street where New York stocks climbed to the highest level in 11 months on upbeat factory data. Markets were also lifted by rising commodity prices which gave a shot in the arm to the energy and mining sectors.
Elsewhere in Asia on Thursday, Hong Kong jumped 1.71 percent, boosted by resource stocks on the back of rising commodity prices, dealers said.
Chinese shares closed up 2.02 percent on Thursday, also led by oil and metal stocks.
The USA economy and employment outlook may be an L shape or W shape recovery. But for now the world markets are clearly in a V shape recovery mode similiar to 2003. Lets hope it's not similiar to 2001 when we had a major market recovery after the 9/11 market colapse only to decline back down in 2002.
The MSCI World Stock Market Index reached a new 11-month high yesterday, rising to the highest level since early last October. From the March bottom, the index is up by 65% (see chart above).
The Bloomberg U.S. Financial Conditions Index reached a two-high yesterday, closing at the highest level since August 8, 2007 (see chart below).
