Global equities reach record US$66 trillion as S&P 500 hits 2,000

[LONDON] Rallies from Brazil to Japan and the Standard & Poor's 500 Index's first trip above 2,000 have sent the value of global equities to a record US$66 trillion.

Shares worldwide added more than US$2.2 trillion in value since Aug 7, according to data compiled by Bloomberg. Optimism that central banks will support economic growth sent the MSCI All-Country World Index up 3.8 per cent from its low this month. The S&P 500 has risen for 10 of the last 13 days and the Nasdaq Composite Index is about 10 per cent from an all-time high.

Global markets are surmounting crises in Ukraine, the Gaza Strip and Iraq as investors renew bets that stimulus will revive growth. The Stoxx Europe 600 Index posted its biggest two-day gain since April after European Central Bank President Mario Draghi signalled policymakers may consider introducing an asset-buying plan. Japan's Topix index is near its highest level since January, rebounding from losses earlier this year.