Asian share markets are opening higher on Tuesday on the heels of a positive performance on Wall Street into month-end purchases as investors get set for the Chinese PMIs today at the top of the hour as factories began to re-open; More on that here.
Stock market performances
- MSCI’s rise 0.7%.
- Japan’s Nikkei+ 0.2%.
- South Korea +1.4%.
- E-Mini futures for the S&P 500 ESc1 +0.3%.
Coronavirus update, slowing of rise in cases
Analysts at ANZ offered a summary of COVID-19 updates:
- Italian new COVID-19 cases rose 4,050, down from 5,217 on Sunday and a high of 6,153 last Thursday.
- Spain reported 812 deaths, down slightly from 838 Sunday. Whilst the data provided a glimmer of hope that lockdowns are working, experts continue to warn that it will be another 2-3 weeks before they can definitively tell if the measures are successful.
- London’s NHS Nightingale hospital at the Excel centre is set to open on Wednesday with 4,000 beds including ICU.
- It was built in about 10 days and will be the largest hospital in the world. Birmingham, Manchester, Glasgow, Cardiff and Belfast are also opening field hospitals which are now widespread across Europe.
- UK engineers have teamed up with Mercedes Formula One to develop a machine that directly supports oxygen to the lungs, preventing many patients from having to go onto a ventilator and reducing pressure on intensive care units. If clinical trials are successful this week, production will start next week. Incredible.”
- Trade ministers from the Group of 20 major economies agreed on Monday to keep their markets open and ensure the flow of vital medical supplies.
Nikkei levels
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