High performance of Chinese banks and technology corporations gave impetus to the Asian stock market in general. The American shares started the year on a bullish note as well, posting record growth. Nikkei 225 jumped over 24,000 points for the first time since November, 1991, while Shanghai Composite gained 0.3%. The shares of Chinese banks went up after the housing prices showed growth in 57 cities out of 70. On the contrary, Hong Kong Hang Seng and South Korean KOSPI plummeted by 0.1% each.
The United States extends a streak of records that began in the last year. It should be reminded that for most part of 2017 the stock indices posted new highs, and the new year was hardly a turning point in this trend. Dow Jones Industrial Average closed above 26,000 points for the first time. Market participants are optimistic about future and positive about US economic prospects. The rally is also backed by an upbeat US corporate revenue report. United States 10-year bond yield jumped to the highest level since 2014, having pushed above the 2.6% mark.
