Asian stocks have extended last week’s rally, led by China shares, amid talk that all of Beijing’s small policy steps might actually add up to real stimulus at some stage. The next move is expected to be a relaxation of restrictions on property buyers.
There was also much relief at Country Garden’s deal with creditors for an extension on onshore debt payments worth 3.9 billion yuan ($537 million). As a result, Chinese blue chips are up another 1.2% on top of last week’s 2.2% rally.
Japanese shares have also been doing well, with the Topix marking a 33-year high in the wake of data showing recurring profits at Japanese companies hit a record in the second quarter. Companies are holding an astonishing 555 trillion yen ($3.80 trillion) of earnings in reserve, which is more than the entire 447 trillion market capitalisation of the Topix.
Fidelity Asian Values Plc (LON:FAS) provides shareholders with a differentiated equity exposure to Asian Markets. Asia is the world’s fastest-growing economic region and the trust looks to capitalise on this by finding good businesses, run by good people and buying them at a good price.
