Copper swells as equities rise in Asia and Europe

COMEX Copper futures gained impressively today amid firm cues from equities. The metal eyed positive development on the US government shutdown as Senate voted 60-40 to end the longest-running government shutdown. Meanwhile, Asian markets rose today. China's Shanghai Composite index rose 0.53%. Hong Kong's Hang Seng index jumped 1.55% as technology stocks rebounded from last week's sell-off on valuation concerns. Japanese Nikkei jumped, led by gains in the technology sector. European shares soared on Monday after the United States moved towards ending the historic government shutdown. German DAX rallied more than 1.3%. COMEX Copper futures soared around 1.60% to trade at $5.03 per pound. MCX Copper is trading at Rs 1009 per kg, up 0.91% on the day as a break above Rs 1000 per kg stayed in place.

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