Asia markets edge higher as hopes rise on economies reopening

- Advertisement -
KEY POINTS
  • Shares in Asia rose in Monday morning trade.
  • Investors continue to watch for developments on the coronavirus front amid hopes of global economies reopening as social distancing measures are eased.
  • Meanwhile, U.S. Treasury Secretary Steven Mnuchin said Sunday that the unemployment rate stateside may have already reached 25% as the administration seeks to reopen the country’s economy.
- Advertisement -
- Advertisement -
- Advertisement -

Stocks in Asia traded higher on Monday morning as hopes rise on economies reopening, even as U.S. reported record job losses in April.

In Japan, the Nikkei 225 edged 0.81% higher while the Topix index gained 0.86%. South Korea’s Kospi also added 0.4%.

Meanwhile, shares in Australia traded in positive territory, with the S&P/ASX 200 gaining 0.61%.

Overall, the MSCI Asia ex-Japan traded 0.15% higher.

Investors continue to watch for developments on the coronavirus front amid hopes of global economies reopening as social distancing measures are eased. U.K. Prime Minister Boris Johnson outlined over the weekend a “conditional plan” to slowly reopen society and the economy. Disney is also set to reopen its Disneyland theme park in Shanghai on Monday.

Meanwhile, U.S. Treasury Secretary Mnuchin warned that the jobless numbers could “get worse before they get better.” He said Sunday that the unemployment rate stateside may have already reached 25% as the administration seeks to reopen the country’s economy. Mnuchin’s comments came after the U.S. on Friday reported a record 20.5 million job losses in April.

TICKER COMPANY NAME PRICE CHANGE %CHANGE
.N225 Nikkei 225 Index NIKKEI 20439.75 260.66 1.29
.HSI Hang Seng Index HSI 24470.18 240.01 0.99
.AXJO S&P/ASX 200 ASX 200 5447.30 56.20 1.04
.SSEC Shanghai SHANGHAI 2895.31 -0.04 0.00
.KS11 KOSPI Index KOSPI 1948.45 2.63 0.14
.FTFCNBCA CNBC 100 ASIA IDX CNBC 100 7702.70 57.71 0.75

The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 99.818 after seeing levels above 100 last week.

The Japanese yen traded at 106.90 per dollar after weakening from levels below 106.2 last week. The Australian dollar changed hands at 0.6533 after rising from levels below $0.64 in the previous trading week.

Oil prices were lower in the morning of Asian trading hours, with international benchmark Brent crude futures down 1.97% to $30.36 per barrel. U.S. crude futures also slipped 1.94% to $24.26 per barrel.

Home of Science
Follow me

- Advertisement -

Discover

Sponsor

Latest

Rod Stewart pulls pints for punters in Glasgow pubon May 2, 2022 at 3:49 pm

Regulars at the Glasgow pub were stunned when the singer helped out after the Old Firm game.

Newspaper headlines: ‘Freedom begins with tax cuts’ and ‘modern monarchy’on September 21, 2022 at 4:31 am

The prime minister's proposals to cut taxes and plans for a slimmed down Royal Family lead the papers.The prime minister's proposals to cut taxes...

Leg breaks to crowdfunding – Shriever’s gold medal storyon July 30, 2021 at 4:52 pm

Bethany Shriever lost funding in 2017. Four years and one crowdfunding campaign later, she's BMX Olympic champion.Dates: 23 July-8 August Time in Tokyo: BST...

Prince Harry and Meghan: Where do they get their money?on January 10, 2023 at 9:37 am

The Duke of Sussex's memoir Spare has finally been published after a series of leaks.The Duke of Sussex's memoir Spare has finally been published...

Premier League: Newcastle can sign players on loan from PIF-owned Saudi clubs after voteon November 21, 2023 at 9:46 pm

Newcastle United will be permitted to sign players on loan from sides also controlled by their Saudi owners in January following a Premier League...
Home of Science
Follow me