Asian markets rally on recovery hopes, despite virus surge | Malay Mail

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HONG KONG, July 6 — Asian markets rallied out of the blocks today, with further signs of economic recovery continuing to resonate with investors more than a surge in coronavirus infections across the planet. The easing of lockdowns is providing hope the global economy will bounce back from an...

Tokyo piled on 1.8 per cent, while Singapore, Seoul, Taipei and Mumbai were all more than one per cent higher, with Wellington and Jakarta also up. — AFP pic

Better-than-forecast data on US jobs creation and factory activity have also provided a boost to confidence, as have hopes for a vaccine, which observers say is key to kickstarting any recovery. Shanghai led the gains, soaring more than five per cent to a more than two-year high, while Hong Kong finished up 3.8 per cent at levels not seen since early March.

“The scale of those measures will dictate whether geopolitics will have more to say on global financial markets,” he said in a note. And Australia said it would effectively seal off the state of Victoria from the rest of the country as authorities struggle to control a surge in cases.

 

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