Global stocks rally as investors pin hopes on coronavirus treatment

FILE PHOTO: A man wearing a protective face mask, following the coronavirus disease outbreak, walks in front of a stock quotation board outside a brokerage in Tokyo, Japan, May 18, 2020. REUTERS/Kim Kyung-Hoon

MSCI’s broadest index of Asia-Pacific shares outside of Japan jumped 0.8%, edging closer to a six-month high touched last week. Japan’s Nikkei reversed early losses to be last up 0.3%. Chinese shares rose too with the blue-chip CSI 300 index adding 0.8%. South Korea’s KOSPI, which has been on a slippery slope since hitting a more than two-year peak earlier this month, climbed 1%.

Equity market sentiment was also supported by a Financial Times report that the Trump administration is considering by-passing normal U.S. regulatory standards to fast-track an experimental coronavirus vaccine from the UK for use in America ahead of the presidential election. Normand pointed to talks of a U.S. fiscal package, Fed’s upcoming policy review next month and the ramping up of the U.S. election campaign as risk events over coming weeks.

Same article every Sunday.. Classic fed pump.

Fed stimulus, not optimism. 🧐

I’ll never understand why market is based on someone’s abstracts.

Hope lifts the heart but the algos 'manage' the share prices.

ad infinitum 🥱

Congrats to the federalreserve and stevenmnuchin1 they managed to make the stock market look like a ridiculous casino In the worst environment ever the rich are getting richer while millions of workers lost their jobs and starving

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