China’s SSE Composite Index (^SSEC) fell by more than 0.3% on Wednesday and the Hang Seng (^HSI) was down 0.7% in Hong Kong at market close.
“The increasing prospect that a slowing infection rate and falling death count will see economies start to slowly reopen next month has seen equity markets across the globe get off to a flying start this week, building on the gains we saw last week,” said Michael Hewson, the chief markets analyst at CMC Markets UK.
“After weeks of lockdown markets appear to be betting that consumers may well go off on a summer spending splurge, as pent up demand gets unlocked, as we head into the summer months,” he said.
“The prospect of non-essential retailers opening in mid-June also gave that sector a boost as preparations start to be made for UK retail, as well as travel and leisure look at a phased return to some semblance of normal.”
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