Asian shares followed Wall Street higher on Monday as investors looked ahead to more countries restarting their economies, even as some reported an unwelcome pick up in new coronavirus cases.
- MSCI (NYSE:MSCI)’s broadest index of Asia-Pacific shares outside Japan (MIAPJ0000PUS) firmed 1.1%.
- Japan’s Nikkei (N225) added 1.6%.
- Chinese blue chips (CSI300) 0.7%.
- E-Mini futures for the S&P 500 (ESc1) opened soft but bounced as the morning wore on and was last up 0.5%.
- The dollar was a shade firmer on the yen at 106.94 on Monday but well within the 105.97 to 109.37 band that has lasted since late March.
- The euro was a fraction softer at $1.0830 (EUR=) but above last week’s low at $1.0765.
- Against a basket of currencies, the dollar was idling at 99.837 (=USD), sandwiched between support at 98.769 and resistance around 100.40.
- In commodity markets, gold edged up 0.5% to $1,708 an ounce.
Oil prices opened about 1% lower as a persistent glut weighed on prices and the coronavirus pandemic eroded global oil demand, even as some governments began to ease lockdowns.