November off to strong start as global markets hit new highs

  • In Japan, the Nikkei closed at its highest level in about 21 years.
  • The Hang Seng hit a nine-year high and Indonesia hit a 20-year high.
  • The rally continued in Europe, where Germany, Norway and Sweden all hit historic highs.

Global markets have started November with strong inflows and record highs.

Several factors are causing investors to pour money into markets all over the world, including global economic expansion, improved earnings globally, pro-growth governments in Japan and India, hopes for moderate leadership at the Federal Reserve, and the long-anticipated U.S. tax reform legislation.

Passersby are reflected in an electronic stock quotation board outside a brokerage in Tokyo, Japan.
Issei Kato | Reuters
Passersby are reflected in an electronic stock quotation board outside a brokerage in Tokyo, Japan.

In Asia, Japan's Nikkei closed at its highest level in 21 years and India and South Korea both hit historic highs. Hong Kong's Hang Seng hit a nine-year high, as did bourses in Vietnam and Australia. Indonesia hit a 20-year high.

The rally continued in Europe, where markets in Germany, Norway and Sweden are also at historic highs. Belgium, the Netherlands, and France are at 10-year highs.

Broader European indexes like the Euro STOXX 600 are at two-year highs as earnings have been improving. Companies in Norway, Italy, Portugal, the UK and Belgium are reporting particularly strong earnings, according to Thomson Reuters.

  • Bob Pisani

    A CNBC reporter since 1990, Bob Pisani covers Wall Street from the floor of the New York Stock Exchange.

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