Global stocks hit new high on emerging Asia wave

Jul 19, 2017, 7:45 AM EDT
(Source: Marco Verch/flickr)
(Source: Marco Verch/flickr)

A strong growth trend in Asia’s emerging markets coupled with a weak U.S. dollar, which has hit its 10-month low, catapulted global stocks to new highs on Wednesday.

The gains follow a recent report that showed China’s GDP expanding at 6.9 percent, defying the expectations for the second quarter of 2017, writes Reuters.

Riding high on the wave on Asia growth, MSCI’s world stocks index posted gains for ninth straight day, which happens to be its longest winning streak since October 2015, notes Nasdaq.