Asian stocks gain on hopes pandemic is approaching peak [Reuters (UK)]
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Source: Reuters
Asian stocks gain on hopes pandemic is approaching peak - Reuters 4 Min Read TOKYO/WASHINGTON (Reuters) - Asian shares rose on Thursday on hopes the COVID-19 pandemic is nearing a peak and that governments would roll out more stimulus measures, while expectations of an oil production cut agreement bolstered crude prices. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.6%, following a strong Wall Street close. Shares in China, where the novel coronavirus first emerged late last year, rose 0.54%. Australian shares were up 1.52%. Oil prices extended gains on hopes major producers will cut output at a meeting later in the day in response to a collapse in global oil demand. New York Governor Andrew Cuomo said the state’s efforts at social distancing were working in getting the virus under control in one of the biggest hot spots in the United States. U.S. President Donald Trump said he would like to reopen the U.S. economy with a “big bang” but that the death toll from t
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