investing.com 31 Dec, 2020 03:15 am

Asian shares set to finish 2020 at record high, riskier currencies in favor By Reuters

Asian shares set to finish 2020 at record high, riskier currencies in favor

FILE PHOTO: Pedestrians wearing facial masks are reflected on an electric board showing stock prices outside a brokerage at a business district in Tokyo By Alun John and Koh Gui Qing HONG KONG/NEW YORK (Reuters) -Asian shares edged up on Thursday and were set to end a tumultuous 2020 at record highs, while growing investor hopes for a global economic recovery caused the dollar to fall further against most major currencies.Looking to 2021, Craig said investors were trying to balance the potential for rising inflation against a likely economic recovery, and assess whether that rebound might be impeded early in the year by new strains of COVID-19 and struggles with rolling out vaccines.Oil prices bucked the trend, however, retreating a shade as swelling year-over-year supply led some traders to view any economic recovery ahead to be gradual rather than swift.The precious metal has risen over 24% this year, its best year since 2010 as investors looked to safe havens and as the dollar wilted.

The upbeat mood, reflected in overnight gains on Wall Street, drubbed the "safe-haven" dollar and supported almost all other major currencies.Morgan Asset Management, citing the U.

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