HONG KONG, Jan 4 — Asian markets rose today following a strong lead from yet another record on Wall Street that was fuelled by easing concerns about Omicron and remaining optimism about the economic recovery.
“We expect 2022 to be far more challenging from an investment perspective,” Heather Wald, of Bel Air Investment Advisors, noted. “Rarely has a market delivered three consecutive years of double-digit returns, as we have seen from 2019-2021.”And market strategist Louis Navellier added: “Equities are still the only game in town, with cash and bonds offering negative real returns, and equities forecasted with double-digit earnings growth and record stock buybacks anticipated.
London opened more than one per cent higher at the start of its first day of the year, while Paris and Frankfurt also rose.Shares in embattled Chinese property giant Evergrande rose in Hong Kong after a day-long suspension, as the company confirmed it had been ordered to demolish part of a resort in Hainan province but would work to resolve the issue.
Anticipation that rates will rise lifted the yield on the 10-year US Treasury note above 1.6 per cent Monday, though analysts said that could also reflect an upbeat view on the economic outlook.
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