Global stock markets continued their climb for the second consecutive day on Tuesday, buoyed by continuous foreign fund inflows and strong corporate earnings.
In the US, the tech-heavy Nasdaq Composite index rose 0.4% to close at a record high of 12,899.34. The Dow Jones Industrial Average and the S&P 500 both gained 0.3%, with the Dow hitting a record high of 31,028.48.
In Europe, the pan-European STOXX 600 index rose 0.7%, led by a 1.3% gain in the technology sector. The UK’s FTSE 100 index also advanced 0.7%, while Germany’s DAX index rose 0.9%.
Meanwhile, in Asia, Japan’s Nikkei 225 index climbed 0.7%, while Hong Kong’s Hang Seng index rose 0.9%.
The rally in global stock markets was fueled by strong corporate earnings and optimism over the rollout of COVID-19 vaccines, as well as by a weaker US dollar, which makes US equities more attractive to foreign investors.