TOKYO - Asian shares rose cautiously on Friday , on course to post the second straight week of gains, helped by hopes governments will make provisions to soften the impact on their economies from the coronavirus epidemic.
Japan's Nikkei dropped 0.6 per cent, not helped by the news of first coronavirus death and signs of a potential rise in domestic human-to-human infections in the country. On Wall Street on Thursday, the S&P 500 lost 0.16 per cent but its futures gained 0.23 per cent in subsequent Asian trade to hit record levels.
Market sentiment improved also after World Health Organization official said the big jump in China's reported cases reflects a decision by authorities there to reclassify a backlog of suspected cases by using patients' chest images, and is not necessarily the"tip of an iceberg" of a wider epidemic,While many investors hope the epidemic will gradually slow down in coming months, allowing companies and businesses to come back to normal operations, how long that process will take...
The euro fell to as low as US$1.0827, its lowest level in almost three years, and last stood at US$1.0836.The euro has been bruised also by rising political uncertainties in Germany as well as worries about sluggish growth in the region. Sterling jumped and so did UK bond yields as investors bet on a higher-spending budget next month after British Prime Minister Boris Johnson forced the resignation of Sajid Javid as finance minister.
Source: Financial Digest (financialdigest.net)
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