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Asian Shares Pulled Higher by China, Eyes on Fed, U.S. GDP

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Asian stocks rose on Monday with Chinese shares near threeweek highs as signs the world economic recovery was well on track bolstered risk appetite, while the U.S. dollar slipped to a twomonth low.

Asian stocks rose on Monday with Chinese shares near threeweek highs as signs the world economic recovery was well on track bolstered risk appetite, while the U.S. dollar slipped to a twomonth low.

MSCIs broadest index of AsiaPacific shares outside Japan jumped 0.3 to surpass critical chart resistance of 700 points and reach its highest since March 18.

The index has had a strong run lately as it clocked its second consecutive weekly rise on Friday and was on track for another month of gains. Since April 2020, the index has offered positive returns in all but three months.

Chinese shares were firm with the bluechip CSI 300 index up 0.4 to its highest since Apr. 6.

South Koreas KOSPI index rose 0.4 while New Zealand shares added 0.6.

Japans Nikkei reversed early losses to be up 0.1 while Australias benchmark share index was off a touch with a public holiday in five of the countrys eight states and territories.

Risk appetite was whetted by early April manufacturing activity indicators out last week, which pointed to a robust start to the secondquarter with data hitting record highs in the United States and signalling an end to Europes double dip recession.

Investors embraced the strong data, shrugging off earlier concerns about potential higher U.S. taxes on capital gains…

Rehabilitating Macro Hedge Funds Mike Dolan

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