Asian stocks keep playing the mixed tunes amid coronavirus crisis

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.