Live Updates: COVID-19 Cases
  • World 11,867,906
    World
    Confirmed: 11,867,906
    Active: 4,496,829
    Recovered: 6,826,936
    Death: 544,141
  • USA 3,073,977
    USA
    Confirmed: 3,073,977
    Active: 1,598,843
    Recovered: 1,341,458
    Death: 133,676
  • Brazil 1,643,539
    Brazil
    Confirmed: 1,643,539
    Active: 505,217
    Recovered: 1,072,229
    Death: 66,093
  • India 743,481
    India
    Confirmed: 743,481
    Active: 265,783
    Recovered: 457,045
    Death: 20,653
  • Russia 694,230
    Russia
    Confirmed: 694,230
    Active: 219,856
    Recovered: 463,880
    Death: 10,494
  • Peru 309,278
    Peru
    Confirmed: 309,278
    Active: 97,388
    Recovered: 200,938
    Death: 10,952
  • Chile 301,019
    Chile
    Confirmed: 301,019
    Active: 26,340
    Recovered: 268,245
    Death: 6,434
  • Spain 299,210
    Spain
    Confirmed: 299,210
    Active: 270,818
    Recovered: ?
    Death: 28,392
  • UK 286,349
    UK
    Confirmed: 286,349
    Active: 241,958
    Recovered: ?
    Death: 44,391
  • Mexico 261,750
    Mexico
    Confirmed: 261,750
    Active: 70,974
    Recovered: 159,657
    Death: 31,119
  • Iran 245,688
    Iran
    Confirmed: 245,688
    Active: 26,757
    Recovered: 207,000
    Death: 11,931
  • Italy 241,956
    Italy
    Confirmed: 241,956
    Active: 14,242
    Recovered: 192,815
    Death: 34,899
  • Pakistan 234,509
    Pakistan
    Confirmed: 234,509
    Active: 94,713
    Recovered: 134,957
    Death: 4,839
  • Saudi Arabia 217,108
    Saudi Arabia
    Confirmed: 217,108
    Active: 60,252
    Recovered: 154,839
    Death: 2,017
  • Turkey 207,897
    Turkey
    Confirmed: 207,897
    Active: 17,345
    Recovered: 185,292
    Death: 5,260
  • South Africa 205,721
    South Africa
    Confirmed: 205,721
    Active: 104,563
    Recovered: 97,848
    Death: 3,310
  • Germany 198,355
    Germany
    Confirmed: 198,355
    Active: 6,552
    Recovered: 182,700
    Death: 9,103
  • France 168,810
    France
    Confirmed: 168,810
    Active: 61,222
    Recovered: 77,655
    Death: 29,933
  • Bangladesh 168,645
    Bangladesh
    Confirmed: 168,645
    Active: 88,392
    Recovered: 78,102
    Death: 2,151
  • Canada 106,106
    Canada
    Confirmed: 106,106
    Active: 27,571
    Recovered: 69,827
    Death: 8,708
  • China 83,565
    China
    Confirmed: 83,565
    Active: 403
    Recovered: 78,528
    Death: 4,634
  • Netherlands 50,694
    Netherlands
    Confirmed: 50,694
    Active: 44,562
    Recovered: ?
    Death: 6,132
  • S. Korea 13,181
    S. Korea
    Confirmed: 13,181
    Active: 982
    Recovered: 11,914
    Death: 285
  • Australia 8,755
    Australia
    Confirmed: 8,755
    Active: 1,194
    Recovered: 7,455
    Death: 106
  • New Zealand 1,536
    New Zealand
    Confirmed: 1,536
    Active: 22
    Recovered: 1,492
    Death: 22

Asian shares up as recovery hopes overshadow virus worries

Author at TechGenyz Insights

Shares rose in Asia 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.

Japan lifted its state of emergency under what Prime Minister Shinzo Abe on Monday called a new lifestyle, with widespread wearing of masks and face shields.

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, while the Shanghai Composite advanced 0.8% to 2,840.43.

As is the financial market's wont these days ... even the slimmest of positive news on the COVID-19 front triggers a bullish immune response and another wave of the peak-virus trade," Jeffrey Halley of Oanda said in a commentary.

U.S. markets were closed for Memorial Day on Monday, while European benchmarks ended higher, reflecting the global investor optimism. France's CAC 40 jumped nearly 2.2% to end the day at 4,539.91. Germany's DAX surged 2.9% to 11,391.28. Trading was closed in Britain for a bank holiday.

Yoshimasa Maruyama, chief market economist with SMBC Nikko Securities, said global trade and production appeared to be bottoming out in May, though demand will likely recover gradually.

Comments from China's central bank governor on support for its slowing economy also lifted sentiment.

Yi Gang, in an interview on the bank's website, promised to push down borrowing costs for entrepreneurs and support development of the real economy.

He said the People's Bank of China will pursue more flexible monetary policy. He said that was in line with official goals announced Friday by Premier Li Keqiang of helping smaller and private companies survive the coronavirus pandemic.

The interview was published as China's largely ceremonial National People's Congress holds its annual session, where other senior officials have stressed the need to push growth higher and create jobs, while steering clear of excess government spending.

Investors are also awaiting U.S. consumer confidence data for May and home sales for April, indicators that might give further clues into the severity of the downturn brought on by the pandemic.

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. (AP)

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