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Asian stocks set to extend gains as stimulus fans recovery hopes

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Stronger appetite for riskier assets is set to lift Asian equities on Thursday, as government stimulus expectations support investor confidence in an economic recovery from the coronavirus.

FILE PHOTO: An investor sits next to a stock quotation board at a brokerage office in Beijing, China January 3, 2020. REUTERS/Jason Lee

The rise came as the Nasdaq Composite, S&P 500 and the Dow Jones Industrial Average continued their rise from March cornonavirus-lockdown-lows to come within 2%, 8% and 11%, respectively, of overtaking all-time closing highs registered in February. But the analysts cautioned asset prices would need a recovery in the global economy to sustain gains.The pan-European STOXX 600 closed at its highest since March 6. European markets have performed strongly so far this week as several countries eased strict lockdown measures.

Governments around the world have gradually started to lift tough lockdown measures imposed to contain the coronavirus which has infected nearly 6.4 million people and killed over 379,000.

 

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