Stocks and oil advance as countries begin to slowly reopen

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HONG KONG: Equities and crude rallied on Tuesday (May 5) as investors cheered a further easing of lockdowns in some countries, which offset a brewing row between the US and China that some fear could see them renew their trade war.

While the death toll from the Covid-19 outbreak passed 250,000 and infections approached 3.6 million, there are signs it is easing, allowing governments in Europe and parts of Asia-Pacific as well as some US states to begin allowing some businesses to reopen.

Sydney gained more than one per cent, while Mumbai and Taipei edged up 0.5%, Singapore piled on 0.7 % and Manila jumped 1.7%. The comments, and his warning he could hit China with fresh tariffs, fanned fears of a repeat of the standoff between the economic superpowers that battered markets last year. "We are more focused on... the policy reactions which every government and central bank is taking up and I think that's a more important driver right now for the economy."

 

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