The advances mirror a powerful rally in metals markets, where gold, silver, copper and aluminium are climbing on what traders describe as a debasement trade. Investors are pulling away from currencies and Treasuries, seeking refuge in hard assets as concerns mount over fiscal largesse, geopolitics and the durability of US exceptionalism.
(Jan 26): Asian mining stocks climbed with metals prices as investors rotated into hard assets, driven by a weakening dollar and growing unease over currencies, geopolitics and global fiscal risks.
A group of materials producers led gains Monday (Jan 26) on MSCI Inc’s broadest index of Asia Pacific equities. Korea Zinc Co shares climbed as much as 14% in Seoul while Zhongjin Gold Corp’s jumped 10% in Shanghai. Markets were closed for holidays on Monday in Australia and India.
