- Strong U.S. data lifts outlook for global pandemic recovery
- Japan leads regional advance as world index nears record high
- Value shares in favour as higher bond yields hurt tech
- Oil extends gains as economy outweighs Iran supply concerns
TOKYO, May 28 (Reuters) – A rally in Asia put global equities on track for a seventh day of gains on Friday as investors bet the U.S. will lead the world out of the COVID-19 pandemic, with the focus turning to a multi-trillion dollar spending boost by the Biden administration.
The Hang Seng climbed 0.6%, but Chinese blue chips (.CSI300) were an outlier, slipping 0.1% a day after closing at a near three-month high.
The MSCI world equity index (.MIWD00000PUS) added 0.2% to 710.34, a fraction off the all-time closing high of…