GLOBAL MARKETS-Asian shares climb to three-week highs on vaccine optimism, dollar retreats – Investing.com India

SourceInvesting.com
SectorFinancial Markets
CountryMiddle east

* MSCI ex-Japan rises for a second straight day* Chinese shares start lower, CSI300 index off 1%* Dollar softens to two-week lows* Crude oil prices rise on economic recovery hopesBy Swati Pandey and Chibuike OguhSYDNEY/NEW YORK, April 7 (Reuters) - A gauge of Asian shares climbed to three-week highs on Wednesday as investors eyed the upcoming earnings season for further signs of a global economic recovery, while the dollar slipped to a two-week low.MSCI's broadest index of Asia-Pacific shares outside of Japan was up 0.3% for its second straight day of gains. It went as high as 697.01, a level last seen on March 18.Japan's Nikkei was a shade higher while Australian shares rose 0.6% and South Korea's KOSPI added 0.5%.Chinese shares, however, were weaker with the bluechip CSI300 index down about 1% after a strong rally last week."The U.S. economy is experiencing the first effects of a powerful double-dose vaccine of broad inoculation and fiscal stimulus," said David Kelly, chief global market strategist at J.P. Morgan Asset Management."The reality is that forecasts remain very uncertain...(but) early signs show the recovery is accelerating, suggesting a faster return to 'normal' than many had dared to hope ...read more...