Singapore stock market bounces on Fed's bumper boost

The Nikkei, which jumped 7 per cent, was given an extra lift by a Bank of Japan decision to embark on its own massive bond-buying scheme.

"The biggest trigger for positive sentiment in these markets will be a flattening of the trajectory for the virus," he told Reuters by phone from Melbourne. "The falls that we have seen have been breathtaking, and it is the speed of those declines that have caught people by surprise," he said. It lost almost 4 per cent against the Australian dollar, 3 per cent against the New Zealand dollar and more than 1 per cent to the South Korean won, Russian ruble and Turkish lira.The weaker dollar also helped lift crude, which has been hammered to multi-year lows by a crash in demand owing to the global lockdown as well as a price war between producers Saudi Arabia and Russia.

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