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Asia: Stocks enjoy further gains as virus restrictions are eased

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[HONG KONG] Most equities rose again on Wednesday as investors grew increasingly, but cautiously, hopeful that the worst of the coronavirus had passed and as countries begin to slowly open up from lockdown. Read more at The Business Times.

Hong Kong rose 0.7 per cent, Seoul gained 0.8 per cent and Singapore put on 0.9 per cent. There were also gains in Taipei, Jakarta and Wellington, though Sydney dropped one per cent.Fears of a second wave of contamination as the lockdown eases was keeping traders on their toes.

"So as we ease these lockdowns there remains the risk that of course you then have to tighten up the controls. That's why governments around the world are going to be relatively cautious about how they ease these lockdowns."Observers are also keeping tabs on China-US relations after Donald Trump hit out at Beijing over its handling of the pandemic, sparking fears of a renewal of the economic superpowers' trade war that hit markets last year.

Friday sees the much-anticipated release of US jobs data for April, with consensus forecasts that unemployment has surged to an incredible 16.2 per cent - the highest since 1948 - from 4.4 per cent. However, some economists expect it to rise even higher.

 

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