Scaling forgotten peaks can make even seasoned climbers dizzy. On Wednesday, Hong Kong’s Hang Seng closed above 30,000, a level last breached in 2007. Japan’s Nikkei 225 has recovered to a level not seen since before the 1997 Asian crisis. South Korea’s equity benchmark is also setting records. To assess whether these rallies are sustainable, it pays to look at what is driving them.
即便是經(jīng)驗豐富的登山者，在攀登被人遺忘的高峰時也可能會暈頭轉(zhuǎn)向。周三，香港恒生指數(shù)(Hang Seng index)在3萬點上方收盤，這是2007年以來未見水平。日本日經(jīng)225指數(shù)(Nikkei 225)已經(jīng)回升至1997年亞洲危機之前水平。韓國的基準股指也在刷新紀錄。要評估這些漲勢是否可持續(xù)，不妨看一看是什么因素在驅(qū)動著它們。
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