Asian stock market rose again today (Tuesday) as investors seized on signs of a slowdown in the outbreak of the coronavirus in key hotspots and some countries began making plans to ease restrictions.
Crude prices were also lifted by hopes that major producers will agree to cut output this week, while the pound clawed back some of its losses that came in response to news Prime Minister Boris Johnson was in intensive care.
In the US epicenter New York, Governor Andrew Cuomo said that for the first time the growth rate there was flat. Earlier today, China reported no new deaths for the first time since January.
Meanwhile, Denmark and Austria have started making plans to lift restrictions slowly as they see light at the end of the tunnel.
Japan’s Nikkei rose 2 percent and has erased most of last week’s losses after Prime Minister Shinzo Abe promised a massive $991 billion economic stimulus package.
Tokyo stocks ended the morning more than one percent higher, while Hong Kong gained 0.6 percent and Shanghai jumped 1.7 percent.
Seoul, Taipei, Singapore, Manila, and Wellington were also more than one percent higher, though Sydney and Jakarta fell slightly.
Earlier on Monday, Asia extended rally following a surge on Wall Street, with much-needed optimism on news that fresh coronavirus infections were slowing in Spain, Germany, Italy, and France.
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