Asian Shares Up as Recovery Hopes Overshadow Virus Worries
Asian shares rose on Tuesday as some regions in Japan resumed close-to-normal business activity, with hopes for economic recovery overshadowing worries over the coronavirus pandemic.
The market focus is shifting to how various nations are adapting to getting back to business, while striving to keep new COVID-19 cases in check.
- Tokyo’s benchmark Nikkei 225 jumped 2.6% to finish at 21,277.77, in a rebound to levels for the index not touched since early March.
- Australia’s S&P/ASX 200 surged nearly 3.0% to 5,780.00.
- South Korea’s Kospi gained 1.7% to 2,027.77.
- Hong Kong’s Hang Seng added 2.1% to 23,438.25.
- Τhe Shanghai Composite advanced 0.8% to 2,840.43.
- Benchmark U.S. crude gained $1.21 to $34.46 a barrel in electronic trading on the New York Mercantile Exchange. It closed at $33.25 on Friday, and markets were closed on Monday.
- Brent crude oil, the international standard, rose 72 cents to $36.25 a barrel.
- The U.S. dollar rose to 107.84 Japanese yen from 107.69 yen late Monday.
- The euro rose to $1.0929 from $1.0898