Japan's benchmark Nikkei 225 jumped 2.6% to 20,179.09 in afternoon trading, helped partly by local media reports about fresh government aid to ride out the pandemic. South Korea's Kospi added 1.1% to 1,948.95. Australia's S&P/ASX 200 rose 0.7% to 5,403.00. Hong Kong's Hang Seng gained 1% to 24,220.65, while the Shanghai Composite picked up 0.7% to 2,892.80.
"This is a policy-induced downturn, and the speed and structure of the recovery could track a different path from previous recessions. The bounce-back will be much quicker." Investors are hoping for a future that's not as bad as the horrific present, the concern on Wall Street often being more about how quickly economic pain is increasing than about whether there is more pain.
Investors found solace in numbers from other countries further ahead in reopening their economies, which haven't shown a renewed surge in COVID-19 cases, said Quincy Krosby, chief market strategist at Prudential Financial.
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