· Asian shares staged a rare rally on Friday as Wall Street eked out gains, bonds rallied and oil boasted its biggest bounce on record, though the panicked rush into U.S. dollars suggested the crisis was far from done.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 3.2%, after seven sessions of losses.
For now, investors in Asia were merely happy Wall Street had not plunged again and South Korean shares bounced 3.5%, though that still left them down 14% for the week.
· China stocks rose on Friday, tracking a rebound in other Asian markets, though the country’s blue-chip index still posted its steepest weekly loss in 17 months on persisting worries over the economic damage from the coronavirus outbreak.
The blue-chip CSI300 index rose 1.8%, to 3,653.22, while the Shanghai Composite Index ended up 1.6% to 2,745.62.
· European markets opened sharply higher Friday after a volatile week, as central banks and governments around the world adopt a “whatever it takes” approach to mitigating the economic hit from the coronavirus pandemic.
The pan-European Stoxx 600 jumped 4.8% at the start of trading, with oil and gas stocks surging 7% as all sectors and major bourses traded firmly in positive territory.
Reference:Reuters,CNBC
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