Asian shares were mostly higher on Thursday

Asian shares rose today as hopes grew the global coronavirus outbreak is reaching its peak and oil prices grew on expectations of a production cut.

Asian Shares

  • Hong Kong’s Hang Seng index rose 0.65 per cent despite Japan’s Nikkei dropping 0.33 per cent overnight.
  • The Nikkei sank as coronavirus infections rose in Japan, after the government declared a state of emergency for Tokyo and other cities.
  • MSCI’s broadest range of Asian shares excluding Japan climbed 0.73 per cent as traders expected more government stimulus to combat coronavirus.

Oil Prices

  • US. crude rose 4.58 per cent to $26.24 a barrel.
  • Brent crude rose 2.5 per cent to $33.71 per barrel.

Currencies

  • The euro nursed losses against the dollar and the pound after euro zone finance ministers failed on Wednesday to agree on more support for their coronavirus-hit economies.

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