Pedestrians walk past an electronic board showing the Nikkei stock index outside a brokerage in Tokyo, Japan. Picture: REUTERS/KIM KYUNG-HOON
Mainland Chinese shares edged up, with the blue-chip CSI300 index up 0.87%, helped by policymakers’ efforts to prevent heavy selling, including liquidity injections and de facto restrictions on selling. On Wall Street, far from the epicentre of the outbreak, the mood was brighter as the S&P 500 gained 1.13% to a record close of 3,334.69 while the Nasdaq Composite added 0.43% to 9,508.68, also a record high.
The World Health Organisation played down media reports on Wednesday of “breakthrough” drugs being discovered to treat people infected with the new coronavirus. “The coronavirus is continuing to spread so we need to remain cautious. But markets now appear to think that there will be a quick economic recovery after a short-term slump,” said Masahiro Ichikawa, senior strategist at Sumitomo Mitsui DS Asset Management.In the currency market, the safe-haven Swiss franc and the yen retreated.The yen stepped back to ¥109.98, compared with a three-week high of 108.305 hit on Friday.In commodities, US West Texas Intermediate crude gained 2.17% to $51.
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
MARKET WRAP: JSE firms for second session as global markets weather virusThe rand also firmed for a third consecutive session, as global markets mull mixed reports about medical research into the coronavirus
Source: BDliveSA - 🏆 12. / 63 Read more »
MARKET WRAP: JSE has best day in a year as global mood liftsThe all share gained 1.77% and the top 40 1.98%, with banks and the platinum index also on the incline
Source: BDliveSA - 🏆 12. / 63 Read more »