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Global markets gain on economic hopes, Hong Kong remains a risk
Asian shares and U.S. stock futures rose on Thursday as growing optimism about economic recovery from the coronavirus pandemic trumped immediate concerns about a standoff between the United States and China over Hong Kong.
MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.5%.
Australian shares rose 1.86% to the highest in more than two months, while Japan’s Nikkei stock index rose 1.28% to the highest since early March as investors cheered th ..
“There remains a fair amount of concern about Hong Kong, but for now markets look like they will remain calm.”
The S&P 500 had closed above 3,000 for the first time in almost 12 weeks, bolstered by bank stocks, as investors hoped that the world economy can recover as it re-opens. [.N]
The S&P 500 has leapt about 36% since the global coronavirus pandemic dragged it to the year’s low on March 23, but there are concerns the rally may be overdone and susceptible to a prot ..
The Economics times