Asian stocks keep playing the mixed tunes amid coronavirus crisis
|- Asian equities flash mixed signals as expectations of further easing confronts rising pandemic fears.
- The Coronavirus numbers from the US/UK challenge market sentiment but Australia marked early hopes.
- US President Trump pushes for phased re-start.
- A busy economic calendar ahead.
With early hopes of the US restart and further easing from the BOJ confronting a jump in the coronavirus (COVID-19) cases, stocks in Asia remain mixed during the pre-Europe session on Thursday. While portraying the move, MSCI’s index of Asia-Pacific shares marks 0.85% of gains whereas Japan’s NIKKEI points 0.70% loss by the press time.
Australia’s ASX 200 mark 2.40% gains to 5,330 on the lowest infection figures in three weeks while South Korea’s KOSPI rose 1.18% to 1,830 following the Bank of Korea’s (BOK) no rate change. Further, shares in New Zealand bear the burden of Treasury’s downbeat comments while those from China cheer one more day without any new cases in the epicenter Hubei.
Additionally, Indian equities remain positive following the government’s extra-efforts to help the citizens amid the lockdown.
It should also be noted that US President Donald Trump earlier reiterated his call to restart the economy sooner. On the other hand, lockdowns in the UK and Spain are likely to be extended from their initial deadlines.
Amid all these, US 10-year Treasury yields lose two basis points (bps) to 0.745% whereas the US stock futures also fail to follow Wall Street’s upbeat performance.
Moving on, investors will have a handful of events from the UK and the US, not to forget the OPEC+ and the EU meetings, which will offer a busy day ahead.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.