Japan's benchmark Nikkei 225 gained 3.2% to 22,212.62. South Korea's Kospi gained 4.5% to 2,123.35, while Australia's S&P/ASX 200 jumped 3.7% to 5,932.40. Hong Kong's Hang Seng added 2.6% to 24,403.92. The Shanghai Composite edged up 0.9% to 2,916.07.
However, the central bank did expand its "Special Program," including purchases of commercial paper and corporate bonds and its lending programs for commercial banks from 75 trillion yen to 110 trillion yen . The move was the latest reminder the Fed is doing everything it can to help support markets, analysts said. Central banks have repeatedly come to the economy's rescue over the years, and it was huge, unprecedented moves by the Fed earlier this year that helped put a halt to the S&P 500's nearly 34% sell-off on worries about the recession coming out of the coronavirus pandemic.The Dow Jones Industrial Average gained 0.6%, to finish at 25,763.
New York Gov. Andrew Cuomo, upset that big groups of people are packing together outside bars and restaurants without face masks, threatened Monday to reinstate closings in areas where local governments fail to enforce the rules. Just a week ago, investors seemed ebullient with expectations for a recovery. Those hopes got a shot of adrenaline earlier this month when a report showed U.S. employers added jobs to their payrolls in May, a big surprise when economists were expecting to see millions more jobs lost.
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