Asian shares regained momentum on Friday as investor sentiment was uplifted by optimism that China would contain the novel Coronavirus, even reports continued to file more cases and death rates.
China’s manufacturing activity which surpassed analysts’ expectations heavily contributed to upbeat market sentiment while services strongly stabilized. In line with this, Amazon reached far beyond outlook with stocks hitting 11% every hour, contributing $100 billion in market value.
Chinese provinces urged firms not to re-open until Feb 10, a factor that might cap shares from gaining.
MSCI’s broadest index of Asia-Pacific shares outside Japan climbed up with 0.3% gains but barely performed with 4% setback this week. Its 2.3% decline on Thursday had been the worst daily session in six months.
Japan’s Nikkei increased by 1.3%, regaining back half of what it shed this week as E-mini futures for S&P 500 acquired 0.1% gain. Such followed after it sunk down 0.5% on Thursday.
The World Health organization (WHO) declared the ongoing viral outbreak a global emergency. In addition to this, WHO director-general Tedros Adhanom Ghebreyesus stated that the biggest concern is the possibility of virus contagion in countries with frail health systems.
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 ...
Asian stocks advanced on the prospect of ultra-easy monetary policy as the U.S. Federal Reserve kept interest rates near zero. Fed deemed it necessary to salvage the ailing economy, dragging the dollar down to a two-year low. The target range ...
Oil prices climbed on Wednesday after U.S. crude inventories fell against analysts’ expectations, prompting a boost in the market amid the coronavirus resurgence. Brent crude futures gained 0.3%, or 14 cents, at $43.36 per barrel. U.S. ...
European stocks traded slightly higher on Tuesday ahead of a U.S. decision to roll out additional stimulus plans despite the underwhelming quarterly earnings reports from the luxury goods market. The pan-European STOXX index inched higher ...