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The S&P 500 rebounded up significantly after the crash as bulls reached the 2800 resistance. However, at the start of the new week buyers are taking a breather as sellers are eyeing the 2700 level on the way down initially. A break above the 2800 resistance should introduce scope for further advances with the 2900 and the 3000 price levels on the bulls' radar.

· Asian stocks extended gains on Tuesday after China’s trade data came in better than expected and as some countries tried to restart their economy by partly lifting restrictions aimed at curbing the coronavirus outbreak.

Analysts said some of the tail risks that had threatened a much deeper and prolonged downturn were starting to dissipate thanks to a slowdown in new coronavirus cases in major economies and a raft of monetary and fiscal stimulus globally.

Also boosting sentiment was data showing China’s exports in March fell only 6.6% from the same period a year earlier, a smaller drop than the expected 14% plunge. Imports eased a modest 0.9% compared with expectations for a 9.5% drop.

That left MSCI’s broadest index of Asia-Pacific shares excluding Japan .MIAPJ0000PUS rallying over 1%.

· Japan’s stock benchmark Nikkei jumped 3% to its highest closing level in more than a month on Tuesday, driven by a gigantic short squeeze, with semiconductor-related companies and retailers leading gains.

The Nikkei average rose 3.1% to close at 19,638.81, a peak unseen since March 10.

The broader Topix gained 2.0% to 1,433.51, with all but two of the 33 sector sub-indexes on the Tokyo exchange finishing in positive territory.

· China shares rose on Tuesday after the country released trade data that showed a smaller-than-expected contraction from a year earlier, giving investors hope for an economic recovery despite the continued global spread of the novel coronavirus.

China’s exports fell 6.6% in March from a year earlier, while imports shrank 0.9%, a better-than-expected outcome as factories restarted production, though the global coronavirus health crisis looks set to keep trade under pressure over coming months.

At the close, the Shanghai Composite index was up 1.59% at 2,827.28.

Reference: CNBC, Reuters, FX Street