Most Southeast Asian stock markets rebounded on Tuesday as global and regional stimulus measures to stem the financial impact of the coronavirus pandemic lifted investor sentiment, while Thailand prepared to enter a month-long emergency.
Thai shares gained on the back of a massive stimulus package to combat the outbreak’s impact, even as the government said it would declare an emergency Thursday to deal with the virus outbreak.
Hong Kong stocks rallied Tuesday, following a broader Asia higher after the Federal rolled out a slew of support measures to ease a global cash crunch.
At the close of trade, the Hang Seng index was up 967.36 points or 4.46% at 22,663.49. The Hang Seng China Enterprises index rose 4.94% to 9,184.44.
Japan’s share benchmark Nikkei climbed more than 7% Tuesday, logging its biggest 1-day surge in more than 4 years, boosted by hopes for massive buying by the Bank of Japan (BOJ) and public pension funds.
The Nikkei average surged 7.1%, its biggest daily gain since February 2016, to finish at 18,092.35, its highest close in 1.5 wks.
Australian shares higher Tuesday as an aggressive credit boost by the Federal added to a worldwide effort to fight the coronavirus pandemic that could push the global economy deep into recession.
The local share price index futures rose 0.9%, a 24-pt discount to the underlying S&P/ASX 200 index close. The benchmark slid 5.6% on Monday to finish at a more than 7-year low. New Zealand’s benchmark S&P/NZX 50 index shed 0.9% in early trade.
European shares attempted another rebound Tuesday as a fresh wave of monetary and fiscal stimulus halted a global selloff in equity markets, but growing evidence of the economic damage from the coronavirus pandemic kept investors on edge.
In a coordinated global effort to stabilise financial markets in one of the biggest routs on record, Germany launched a stimulus package of up to EUR750-B, while the Fed took unprecedented steps to shore up credit across the economy.
All the major country indexes rose in early trading, with Germany’s DAX, Spain’s IBEX and London’s FTSE 100 adding between 3.5% and 5.2%. The pan-European STOXX 600 index jumped 4.2% and was set for its best day since August 2015.
Europe’s fear gauge fell to 55.57, its lowest in nearly 2 wks.
Data as of 24 March 2020. All quotes delayed at least 15 mins.
|.TRXFLDJPP||Thomson Reuters Equity Japan Index||3:43am EDT||116.90||+3.87||+3.42%|
|.TRXFLDHKP||Thomson Reuters Equity HK Index||5:43am EDT||249.18||+11.03||+4.63%|
|.TRXFLDINP||Thomson Reuters Equity India Index||6:23am EDT||890.47||+16.61||+1.90%|
|.N225||Nikkei Stock Average 225||2:15am EDT||18,092.35||+1,204.57||+7.13%|
|.HSI||Hang Seng Index||4:08am EDT||22,663.49||+967.36||+4.46%|
|.AORD||ASX All Ordinaries Index||3:00am EDT||4,753.30||+189.20||+4.15%|
|.KS11||KOSPI Index||5:03am EDT||1,609.97||+127.51||+8.60%|
|.SETI||SET Composite Index||5:48am EDT||1,033.84||+9.38||+0.92%|
|.JKSE||Jakarta Composite||5:14am EDT||3,937.63||-51.88||-1.30%|
|.PSI||PSE Composite Index||12:50am EDT||4,774.27||+30.90||+0.65%|
|.SSEC||Shanghai Composite Index||3:59am EDT||2,722.44||+62.27||+2.34%|
|.BSESN||S&P BSE Sensex||6:40am EDT||26,674.03||+692.79||+2.67%|
|.FTFBMKLCI||FTSE Bursa Malaysia KLCI||23 Mar 2020||1,291.14||+31.26||+2.48%|
|.HNX30||HNX 30 Index||23 Mar 2020||174.98||+0.17||+0.10%|
Have a healthy day, stay home!