(Bloomberg) — Asian stocks inched higher after US shares held last week’s gain in a holiday-shortened session on Wall Street.
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Japanese and South Korean shares rose at the open, while Australian shares pared an earlier advance as trading got underway Monday. US contracts fell in Asia after the S&P 500 held a fourth straight week of gains Friday while the VIX — Wall Street’s “fear gauge” and a measure of equity volatility — fell to its lowest since January 2020.
The drop in volatility and bets the Federal Reserve could finally be done with raising interest rates have seen the S&P 500 Index climb 8.7% this month, on track for one of the best performances in the last century. Investors flocked into equities at the fastest pace in almost two years, according to Bank of America.
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