Asian shares are rallying, taking a positive cue from Wall Street.
Shanghai’s SSE is currently up 3.6 percent while Tokyo’s Nikkei 225 is advancing 4 percent. Hong Kong’s Hang Seng is up 3.2 percent.
Meanwhile, investors are waiting for potential news on a slowing Chinese economy. Chinese legislators will convene this weekend to cement the country’s five-year plan, which is essentially a blueprint for the country for the years spanning 2016 to 2020.
The leadership of China’s Communist Party hashed out the broad strokes of the plan last October at the Fifth Plenum of the 18th CPC Central Committee meeting in Beijing.
The main goal of the plan, according to information released by government officials it to build a “moderately prosperous society” by 2020. China is hoping to double its 2010 GDP and per capita income by the end of this plan’s lifespan. The plan is also expected to boost e-commerce and local fashion brands.