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Global markets are surging Monday as investors shrug off a dramatic rise in new coronavirus cases in the United States.
The Nikkei index in Tokyo closed out its trading day earning 1.8%. The Hang Seng in Hong Kong was soaring at just over 4% in late afternoon trading, while Shanghai’s Composite index had gained a staggering 5%. The KOSPI index in Seoul was 1.6% higher and Taiwan’s TSEC was up 1.7%.
Sydney’s S&P/ASX lost 0.6%, keeping the region from completing a clean sweep. Mumbai’s Sensex index was up 1.6% in late afternoon trading.
Europe is also beginning the week on a good note. London’s FTSE index was up 2.3%, Paris’s CAC-40 was just over 2% higher, and Frankfurt’s DAX index was 2.2% higher.
In oil markets, U.S. crude is selling at $40.94 per barrel, up 0.7%, while the international benchmark, Brent crude, is selling at $43.52 per barrel, up 0.8%.
And all three major U.S. markets are trending upward hours before Wall Street returns to action after a three-day Fourth of July holiday weekend.