TOKYO/WASHINGTON: Asian shares rose on Thursday on hopes the COVID-19 pandemic is nearing a peak and that governments would roll out more stimulus measures, while expectations of an oil production cut agreement bolstered crude prices.
New York Governor Andrew Cuomo said the state's efforts at social distancing were working in getting the virus under control in one of the biggest hot spots in the United States. The S&P 500 gained 3.41per cent on Wednesday, helped by hopes the pandemic was nearing its peak. However, U.S. stock futures gave up earlier gains to be down 0.27per cent
Wall Street rallied on Trump's optimism though recent U.S. data and forecasts are only now beginning to reflect the economic damage. The novel coronavirus has spread across the globe, infecting more than 1.4 million people and causing more than 83,400 deaths, according to a Reuters tally. The pandemic is still infecting and killing large numbers of people across Europe and there is still no sign that the peak of the region's outbreak has been reached, the EU's disease monitoring agency said.
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