Asian stocks gain after France, Spain unveil reopening plans

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Asian stock markets gained Wednesday after France and Spain joined governments that plan to ease anti-virus controls and allow businesses to reopen.

Benchmarks in Shanghai, Hong Kong, Sydney and Southeast Asia advanced. Japanese markets were closed for a holiday.

The Shanghai Composite Index rose 0.2% to 2,814.75 and Hong Kong's Hang Seng Index added 0.1% to 24,598.00. The Kospi in Seoul advanced 0.8% to 1,948.68. On Wednesday, New Zealand allowed construction sites, restaurants and some other businesses to reopen following a decline in new virus cases. In the United States, some governors are rolling back curbs and allowing restaurants, hair salons and other businesses to reopen despite warnings by health experts that moving too fast might lead to new outbreaks.

On Wall Street, the benchmark S&P 500 Index lost 0.5% to 2,863.39. The Dow Jones Industrial Average slipped 0.1% to 24,101.55. The Nasdaq, which is dominated by big tech stocks, fell 1.4% to 8,607.73. They are wary of how fast stocks have rebounded despite the gradual pace of resuming business activity.

 

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