13.00 PM: A rally in Asia put global equities on track for a seventh day of gains on Friday

A rally in Asia put global equities on track for a seventh day of gains on Friday as investors bet the U.S. will lead the world out of the COVID-19 pandemic, with the focus turning to a multi-trillion dollar spending boost by the Biden administration.

Tokyo led the advance, with the Nikkei jumping 2.1%. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1.1% and hit its highest level this month.

The Hang Seng climbed 0.6%, but Chinese blue chips were an outlier, slipping 0.1% a day after closing at a near three-month high.

The MSCI world equity index added 0.2% to 710.34, a fraction off the all-time closing high of 710.36 set on May 7.

European share markets looked set to open stronger, with pan-region Euro Stoxx 50 futures up 0.4% in early deals. FTSE futures were also 0.4% higher.

News Source:- Moneycontrol

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