· Asian shares rose on Thursday on hopes the COVID-19 pandemic is nearing a peak and that governments would roll out more stimulus measures to support their economies, while expectations of a deal to cut oil production bolstered crude prices.
MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.9%, following a strong Wall Street close. U.S. stock futures were flat after bouncing in and out of positive territory.
· Tokyo shares ended lower on Thursday, even as Wall Street peers rallied, as investors remained cautious and worried about the impact of the COVID-19 pandemic on corporate Japan’s earnings.
The benchmark Nikkei average eased 0.04% to 19,345.77, despite Wednesday’s big rally on Wall Street.
The Dow Jones Industrial Average and the S&P 500 advanced 3.4% each, while the Nasdaq Composite gained 2.6% on hopes that the pandemic may be peaking and Bernie Sanders’ decision to suspend his presidential campaign.
Japan recorded 503 new coronavirus infections on Wednesday, its biggest daily increase since the outbreak, underscoring the struggle of the authorities to contain the disease without imposing a mandatory lockdown.
· China stocks settled higher on Thursday, tracking strength in other Asian markets on hopes the new coronavirus pandemic may be approaching a peak.
At the close, the Shanghai Composite index was up 0.37% at 2,825.90.
· European markets traded higher Thursday as market participants start to hope that the coronavirus pandemic is reaching a peak, but the latest U.S. unemployment claims data could hit sentiment.
The pan-European Stoxx 600 climbed 1.7% in early deals, with travel and leisure stocks jumping 4% to lead gains, as all sectors and major bourses entered positive territory.
Reference: CNBC, Reuters
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