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Stocks rally with oil but virus uncertainty keeps traders on edge | Malay Mail

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HONG KONG, April 23 — Oil prices rallied today, helping boost equity markets, on fresh tensions between the US and Iran, but investors continued to fret over the uncertain economic outlook despite the coronavirus pandemic showing signs of slowing. With devastation wrought on economies around the...

Thursday, 23 Apr 2020 05:28 PM MYT

But observers say the route out of the crisis remains uncertain, while the head of the World Health Organisation warned the end was still a long way off. Iran, meanwhile, said it put its first military satellite into orbit. Washington alleges the space programme is a cover to develop ballistic missiles.

Still, Asian markets enjoyed a welcome advance. Tokyo, Mumbai and Jakarta were all more than one per cent higher, while Seoul put on one per cent and Hong Kong gained 0.5 per cent. However, he pointed to China, which is emerging from months of lockdown but is struggling to kickstart the key consumer sector.

Data showed South Korea’s economy contracted 1.4 per cent in January-February, its worst number since 2008, and in Germany a closely watched forward-looking index of consumer confidence came in at a record low for May.

 

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