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Asian stock markets advanced on Thursday. The upbeat performance followed after crude prices recovered from underperformance and as the U.S. government pledged to provide more stimulus to nurse the virus-beaten economy.
MSCI’s broadest index of Asia Pacific shares outside Japan soared by 0.5% at 460.43 points, regaining momentum after a two-week low.
Australian S&P/ASX increased 0.4% while the blue-chip index inched up by 0.3%. The Japanese benchmark Nikkei recorded a 0.8% increase.
Asian markets’ active trading session followed Wall Street’s positive finish as the Dow, S&P 500, and Nasdaq hiked 2%, 2.3%, and 2.8% respectively. Better-than-expected U.S. corporate gains also supported equities. However, market sentiment remained weak as the virus outbreak posed a sharp economic contraction.
The Dollar fell to two-year lows on Friday, heading to its lowest decline in 10 years as concerns mounted over the economic recovery of the U.S. amid a second resurgence of the COVID-19 pandemic. The Dollar index plunged to 92.777, on course ...
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...
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