Live Updates: COVID-19 Cases
  • World 18,456,952
    World
    Confirmed: 18,456,952
    Active: 6,068,004
    Recovered: 11,691,229
    Death: 697,719
  • USA 4,862,285
    USA
    Confirmed: 4,862,285
    Active: 2,255,829
    Recovered: 2,447,525
    Death: 158,931
  • Brazil 2,751,665
    Brazil
    Confirmed: 2,751,665
    Active: 744,644
    Recovered: 1,912,319
    Death: 94,702
  • India 1,858,689
    India
    Confirmed: 1,858,689
    Active: 588,005
    Recovered: 1,231,682
    Death: 39,002
  • Russia 861,423
    Russia
    Confirmed: 861,423
    Active: 185,601
    Recovered: 661,471
    Death: 14,351
  • South Africa 516,862
    South Africa
    Confirmed: 516,862
    Active: 150,286
    Recovered: 358,037
    Death: 8,539
  • Mexico 443,813
    Mexico
    Confirmed: 443,813
    Active: 100,124
    Recovered: 295,677
    Death: 48,012
  • Peru 433,100
    Peru
    Confirmed: 433,100
    Active: 115,198
    Recovered: 298,091
    Death: 19,811
  • Chile 361,493
    Chile
    Confirmed: 361,493
    Active: 17,810
    Recovered: 333,976
    Death: 9,707
  • Spain 344,134
    Spain
    Confirmed: 344,134
    Active: 315,662
    Recovered: ?
    Death: 28,472
  • Iran 312,035
    Iran
    Confirmed: 312,035
    Active: 24,402
    Recovered: 270,228
    Death: 17,405
  • UK 305,623
    UK
    Confirmed: 305,623
    Active: 259,413
    Recovered: ?
    Death: 46,210
  • Pakistan 280,461
    Pakistan
    Confirmed: 280,461
    Active: 25,065
    Recovered: 249,397
    Death: 5,999
  • Saudi Arabia 280,093
    Saudi Arabia
    Confirmed: 280,093
    Active: 35,089
    Recovered: 242,055
    Death: 2,949
  • Italy 248,229
    Italy
    Confirmed: 248,229
    Active: 12,474
    Recovered: 200,589
    Death: 35,166
  • Bangladesh 242,102
    Bangladesh
    Confirmed: 242,102
    Active: 101,013
    Recovered: 137,905
    Death: 3,184
  • Turkey 233,851
    Turkey
    Confirmed: 233,851
    Active: 10,607
    Recovered: 217,497
    Death: 5,747
  • Germany 212,320
    Germany
    Confirmed: 212,320
    Active: 8,388
    Recovered: 194,700
    Death: 9,232
  • France 191,295
    France
    Confirmed: 191,295
    Active: 79,501
    Recovered: 81,500
    Death: 30,294
  • Canada 117,031
    Canada
    Confirmed: 117,031
    Active: 6,487
    Recovered: 101,597
    Death: 8,947
  • China 84,464
    China
    Confirmed: 84,464
    Active: 800
    Recovered: 79,030
    Death: 4,634
  • Netherlands 55,470
    Netherlands
    Confirmed: 55,470
    Active: 49,321
    Recovered: ?
    Death: 6,149
  • Australia 18,730
    Australia
    Confirmed: 18,730
    Active: 7,876
    Recovered: 10,622
    Death: 232
  • S. Korea 14,423
    S. Korea
    Confirmed: 14,423
    Active: 770
    Recovered: 13,352
    Death: 301
  • New Zealand 1,567
    New Zealand
    Confirmed: 1,567
    Active: 22
    Recovered: 1,523
    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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