TOKYO - Asian shares and Wall Street futures nudged higher on Wednesday amid hopes the worst of the coronavirus in China may have passed, although prevailing uncertainty about the outbreak has kept investors wary.
fell 0.12%, but investors in other equity markets looked past this decline. Shares in Hong Kong .HIS rose 0.57% to a three-week high.Oil futures, which have been in a downtrend since the start of the year, rose in Asia from 13-month lows due to budding optimism about the virus and hopes that output cuts by major producers will support prices.
The global mood brightened after China’s senior medical adviser said on Tuesday the number of new coronavirus cases was falling in some provinces and forecast the epidemic would peak this month. Investors will likely need to see more evidence that the virus, which emerged in the central Chinese city of Wuhan late last year and has spread to 24 other countries and territories, is indeed receding before they take on more risk.
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