Although peaks in the trading markets are just moments in time, it is still a positive sign when we reach them, if only temporarily. This week we saw a congruence of high points from many corners of the world.
Starting in Southeast Asia, the Philippines and Indonesian stock markets hit their record high on Wednesday, while Thailand ended atop a 19-year peak, amid the improving global economic outlook.
Japan’s Nikkei climbed to a 52-month high on Wednesday.
Better than expected company results in Australia helped the share market to close at a four-and-a-half year high.
Back in the UK, the FTSE 100 rose to fresh five-year highs.
Europe’s largest economy, Germany may also be picking up steam, with employment at its highest level in more than 20 years. Investor optimism, too, is up. According to the closely watched ZEW survey, confidence soared to its highest level in nearly three years this month after three consecutive monthly increases.
On Tuesday in the United States, the Dow Jones index made another foray towards its all-time high, hitting 14,023 — 135 points shy of its record close set in October 2007.
(Source: Reuters reports from around the world)