Sydney — Asian shares advanced for a second consecutive session on Monday, underpinned by coronavirus hopes after the US Food & Drug Administration authorised the use of blood plasma from recovered patients as a treatment option.
South Korea’s Kospi, which has been on a slippery slope since hitting a more than two-year peak earlier this month, climbed 0.9%. Analysts still urged caution with Wall Street indices already at record highs even as the world economy struggles to recover from the once-in-a-century pandemic. Looming large over this week is a keenly anticipated address by Federal Reserve chair Jerome Powell at the Kansas City Fed Jackson Hole symposium, where he will talk on the Fed’s monetary policy framework review.
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