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ECB's monetary bazooka peps up Asian stocks

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TOKYO: Stocks in Asia bounced back on Thursday (Mar 19) after the European Central Bank launched an emergency plan to buy bonds in what one ...

launched an emergency plan to buy bonds in what one analyst said could be a"game changer" for the coronavirus-wracked eurozone.

"Extraordinary times require extraordinary action. There are no limits to our commitment to the euro," ECB chief Christine Lagarde tweeted. "It is up to us European states to be ready through budgetary interventions and greater financial solidarity within the eurozone," tweeted Macron. The ECB move also had a dramatic effect on the oil market, with the price of the US benchmark West Texas Intermediate up almost 17 per cent at nearly US$24 a barrel, recouping much of the 24 per cent lost the day before.

 

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Tokyo: Stocks more than 2% up after ECB bond-buying scheme[TOKYO] Tokyo stocks opened more than two per cent higher on Thursday after the European Central Bank announced a surprise 750-billion-euro scheme to support the economy and the Japanese yen edged lower. Read more at The Business Times.
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