Wall Street's S&P 500 index ended Wednesday up 2% for its best day in three months.Investors were snapping up lower-priced shares and were encouraged by hopes of possible additional stimulus from the European Central Bank, analysts said. But they warned the recovery was fragile.
The Shanghai Composite Index rose 0.3% to 3,264.71 and the Nikkei 225 in Tokyo added 0.5% to 23,141.91. The Hang Seng in Hong Kong was little-changed at 24,460.08.New Zealand advanced while Singapore and Jakarta declined. Forecasters warn the stock price recovery might be too big and too early to be supported by uncertain economic activity as coronavirus infection numbers rise in the United States, Brazil and some other countries. Some governments have re-imposed anti-disease controls that are hampering business.
The U.S. Congress is at an impasse on whether to approve a new economic aid package after additional unemployment benefits ran out. and other stimulus that it approved earlier ran out.
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