Asian shares and U.S. futures rebounded on Monday as investors grasped at threads of hope that the battle against the coronavirus pandemic may be making some progress in some hard-hit areas.
Asian Shares & U.S. Futures
- The Nikkei 225 NIK, +4.24% in Tokyo gained 2.2%.
- Hong Kong’s Hang Seng HSI, 2.313% rose 1%.
- South Korea’s Kospi 180721, +3.71% added 2.5%
- The S&P/ASX 200 XJO, +4.32% in Sydney advanced 3.3%.
- Shares also rose in Taiwan Y9999, +1.60% and Southeast Asia.
- In New York, S&P 500 futures ES00, 3.959% were about 3% higher.
- In currency trading, the dollar USDJPY, 0.488% rose to 108.87 Japanese yen from 108.48 yen on Friday
- Energy markets have recovered somewhat on expectations that Saudi Arabia and Russia might tone down their price war. However, benchmark U.S. crude CL.1, -1.482% was lower on Monday, falling $1.52 to $26.82 per barrel in electronic trading on the New York Mercantile Exchange. On Friday, it climbed 11.9% to $28.34 per barrel, adding on to its nearly 25% surge the day before.
- Brent crude BRNM20, -0.792% , the international standard, gave up $1.06 to $33.05 per barrel. It rose $4.17 on Friday to $34.11 a barrel.