- Shares in Asia remain mildly positive amid hopes of US markets open, proximity to the pandemic’s peak.
- Wall Street flashed mixed signs, New York Fed said to reduce some repo operations.
- Chinese trade numbers add to the market’s risk reset.
- Headlines concerning the virus will be the key amid a lack of major data/events.
With the hopes that coronavirus (COVID-19) is near to the peak gaining momentum, Asian shares register mild gains ahead of the European session on Tuesday.
Other than the likely peak of the pandemic at global hotspots, US President Donald Trump’s push for the economic restart as well as upbeat prints of China trade numbers, for March, also pleased the share buyers.
As a result, MSCI’s index of Asia-Pacific shares outside Japan rises more than 1.0% whereas Japan’s NIKKEI surge above 2.50% by the press time.
Australia’s ASX200 and New Zealand’s NZX50 also cheered China data and risk reset, together with the Chinese stocks, while also paying a little heed to the global rating giant S&P’s warning for the Aussie credit rating.
Markets in India are closed but the government has announced the extension of earlier 21-day lockdown to May 03 with stricter measures to push the regulations.
Wall Street posted a mixed outcome the previous day while the US stock futures are mildly in loss considering the preparations for the upcoming earning season. Further, the US 10-year treasury yields remain positive near 0.77%. It’s worth mentioning that the New York Fed earlier cited normalization in the markets by cutting off some report operations.
Investors may now keep eyes on the virus updates while further news of the extended lockdowns may weigh on the risk-tone.
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