Asian shares stepped ahead on Monday and oil prices hit a five-week peak as countries' efforts to re-open their economies stirred hopes the world was nearer to emerging from recession.
SYDNEY/HONG KONG - Asian shares stepped ahead on Monday and oil prices hit a five-week peak as countries’ efforts to re-open their economies stirred hopes the world was nearer to emerging from recession.
The positive sentiment overcame escalating U.S.-China tensions, sending E-Mini futures for the S&P 500 up 1.1%, even though results from a raft of U.S. retailers are likely to make for messy reading.Some analysts cautioned against reading too much into early re-opening of economies. Data in Japan confirmed the world’s third largest economy slipped into recession in the first quarter, putting it on course for its worst postwar slump as the coronavirus takes a heavy toll.rose 0.6% as signs of a slowdown in coronavirus infections raised optimism that Japan would soon ease restrictions in more prefectures. Chinese blue chips were also up 0.6%.
Late Sunday, Powell outlined the likely need for three to six more months of government financial help for firms and families. U.S. lawmakers and officials are crafting proposals to push American companies to move operations or key suppliers out of China that include tax breaks, new rules, and carefully structured subsidies.In a report on the outlook for corporate dividends, Janus Henderson Investors argued Europe and the UK would be more badly affected than North America, while technology, healthcare, food and most basic consumer sectors should be safer.
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Asia shares follow S&P 500 higher, oil and gold jumpAsian shares were led higher by S&P 500 futures on Monday and oil prices hit a five-week peak as countries' efforts to re-open their economies stirred hopes the world was nearer to emerging from recession.
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Asia shares make cautious gains, oil and gold jumpAsian shares crept ahead on Monday and oil prices hit a five-week high as more countries re-opened their economies, stirring hopes the world was nearer to emerging from recession.
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