· Wall Street rallies, led by healthcare jump
U.S. stocks rose on Monday, led in part by healthcare stocks as investors looked for shares that have become cheap and can withstand the impact to the economy from efforts to stem the spread of the coronavirus.
The Dow Jones Industrial Average .DJI rose 690.7 points, or 3.19%, to 22,327.48, the S&P 500 .SPX gained 85.18 points, or 3.35%, to 2,626.65 and the Nasdaq Composite .IXIC added 271.77 points, or 3.62%, to 7,774.15.
· European markets extend gains after choppy session to close over 1% higher
European markets flipped higher and extended gains on Monday afternoon, as the coronavirus pandemic remained in focus for investors.
The pan-European Stoxx 600 ended the day up 1.1%, paring earlier losses.
· Australia stocks jump 3%; China due to release manufacturing numbers
Stocks in Asia Pacific traded higher on Tuesday morning ahead of the release of China’s official manufacturing Purchasing Managers’ Index for March, expected at 9:00 a.m. HK/SIN.
Australian shares led gains in the region’s major markets, with the S&P/ASX 200 up 3.17%. The moves came after the index got off to a flying start to the week and surged by 7% on Monday.
Over in South Korea, the Kospi also rose 1.63% while the Kosdaq index gained 2.58%. Japan’s Nikkei 225 saw more muted gains as it added 0.51%, while the Topix index advanced 0.13%.
Overall, the MSCI Asia ex-Japan index traded 0.76% higher.
Investors will be watching for the release of China’s official manufacturing PMI for March on Tuesday morning. The data could offer clues to the scale of economic impact from the coronavirus outbreak in China, where the disease was first reported.
· China says manufacturing activity expanded in March, defying expectations of a contraction
China on Tuesday said the official Purchasing Manager’s Index for March was 52.0, beating expectations for an economy hit by the coronavirus outbreak.
In February, the official PMI hit a record low of 35.7.
Reference: CNBC, Reuters
Thai
Eng