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Asian shares ended on a week high during the previous session after NASDAQ entered positive territory for the first in the year.
Japan’s Nikkei led the rally, gaining 2.07% at 10:53 PM ET (3:53 AM GMT) after the nation had granted “exceptional approval” to Gilead Sciences’ experimental drug Remdesivir. The potential treatment for COVID-19 patients received FDA emergency-use authorization earlier in May.
Japan’s Fujifilm Holdings had also revealed the development of a PCR reagent that could speed up testing from 4-6 hours to 75 minutes.
China’s Shanghai Composite inched up by 0.62%, while the Shenzhen Component gained 0.91%. The gains come after negotiations between the U.S. and China led the two largest economies to support the first phase of a trade agreement.
Meanwhile, Hong Kong’s Hang Seng Index climbed by 1.02%, while South Korea’s KOSPI gained 1.27%.
Down Under, the S&P/ASX gained 0.73% after the Reserve Bank of Australia (RBA) released its monetary policy statement on Friday morning.
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 ...
On Wednesday, European stocks rose slightly after mixed earnings reports. However, the new wave of the coronavirus outbreak kept investors cautious while they also wait for the U.S. Federal Reserve’s announcement. The Stoxx Europe 600 ...
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. ...
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