Asian stocks set to rise as focus swings to recovery prospects

Asian stocks were expected to rise on Thursday, as hopes of a robust economic recovery offset concerns over flare-ups in the coronavirus pandemic, and as investors looked ahead to earnings season.09 Jul 2020 08:00AMNEW YORK: Asian stocks were expected to rise on Thursday, as hopes of a robust economic recovery offset concerns over flare-ups in the coronavirus pandemic, and as investors looked ahead to earnings season.

He singled out earnings from JPMorgan, Citigroup, and Wells Fargo on Tuesday, as well as tech heavyweights of Microsoft and Netflix on Thursday. MSCI's broadest index of Asia-Pacific shares outside Japan closed 1.29per cent higher, helped by Chinese stocks, which have rallied for seven-straight days. Emerging market stocks rose 1.67per cent.

The passing of the key technical threshold for gold came as the U.S. coronavirus outbreak crossed a grim milestone of over 3 million confirmed cases, and as seven states reported record numbers of new infections.

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