The MSCI Asia Pacific Index advanced 0.6% as of 9:31 a.m. in Hong Kong, taking its rebound from a March 23 low to 20%.
Now, after billions of dollars pledged in stimulus measures, investors are dipping their toes back in, while weighing the potential for another wave of infections as Asian nations consider reopening their economies. Fast forward a few weeks, and some of the region’s equity markets that witnessed trading halts and even bourse closures became the first to climb out of bear territory, buoyed by bargain hunting and short covering.
Asian governments and central banks have been doing their bit to support companies, doling out billions in stimulus packages and slashing interest rates in emergency cuts. "Volatility is expected to remain high, although it won’t be as extreme as when the crisis first hit as many quant-driven portfolio adjustments have already taken place.”