China stocks rallied Thursday to post their biggest monthly advance since December, after positive trial results for a drug to treat COVID-19 and downbeat data reinforced hopes of further stimulus to bolster the world’s 2nd-largest economy.
The blue-chip CSI300 index ended up 1.2% at 3,912.58, while the Shanghai Composite Index closed 1.3% higher at 2,860.08.
On the week, CSI300 gained 3.1%, while SSEC added 1.8%.
On the month, CSI300 climbed 6.1%, while SSEC was up 4%, both posted their best monthly rise since last December, as investors cheered the reopening of some parts of the country and a number of stimulus measures.
Japanese stocks scaled a near 8-wk closing high Thursday, tracking Wall Street’s overnight rally on promising early trial results of an experimental COVID-19 treatment, as well as on solid tech earnings and a surge in Crude Oil prices.
The benchmark Nikkei average advanced 2.6% at 20,193.69, its highest closing level since 9 March, with trading volume on the main board hitting a 1-month peak of $28.8-B.
The Nikkei volatility index, considered a fear gauge based on option pricing, dropped 11.9% to an 8-wk low of 29.4, reflecting a decline in investor anxiety.
The broader Topix gained 1.0% at 1,464.03, also its highest close since 6 March, with more than 67% of the 33 sector sub-indexes on the Tokyo exchange finishing higher.
Southeast Asian stock markets climbed Thursday as progress in the development of a COVID-19 treatment and higher Crude Oil prices spurred a rally.
Singapore shares jumped as much as 2.3% to a near 2-wk peak and led gains in the region, underpinned by a jump in shares of DBS Group Holdings.
Stocks in Indonesia, the region’s largest economy, gained about 2.5% to hit their highest level since 15 April. West Java, Indonesia’s most populous province, hopes to ease coronavirus social distancing restrictions in some areas and allow some factories to reopen as infections decline.
In Thailand, the energy sector drove the main stock index 1.4% higher to a near 8-wk peak.
Malaysian shares gained more than 1%, helped by Genting Malaysia 3.4% rise and Petronas Chemicals Group’s near 5% climb.
Data as of 30 April 2020. All quotes delayed at least 15 mins.
|.TRXFLDJPP||Thomson Reuters Equity Japan Index||2:59am EDT||128.36||+1.39||+1.09%|
|.TRXFLDHKP||Thomson Reuters Equity HK Index||3:10am EDT||278.95||+0.00||+0.00%|
|.TRXFLDINP||Thomson Reuters Equity India Index||3:09am EDT||1,119.11||+28.80||+2.64%|
|.N225||Nikkei Stock Average 225||2:15am EDT||20,193.69||+422.50||+2.14%|
|.HSI||Hang Seng Index||29 Apr 2020||24,643.59||+67.63||+0.28%|
|.AORD||ASX All Ordinaries Index||2:49am EDT||5,597.70||+133.90||+2.45%|
|.KS11||KOSPI Index||29 Apr 2020||1,947.56||+13.47||+0.70%|
|.SETI||SET Composite Index||3:26am EDT||1,295.47||+12.79||+1.00%|
|.JKSE||Jakarta Composite||3:40am EDT||4,710.84||+143.52||+3.14%|
|.PSI||PSE Composite Index||12:50am EDT||5,700.71||+56.74||+1.01%|
|.SSEC||Shanghai Composite Index||3:00am EDT||2,860.08||+37.64||+1.33%|
|.BSESN||S&P BSE Sensex||3:25am EDT||33,665.92||+945.76||+2.89%|
|.FTFBMKLCI||FTSE Bursa Malaysia KLCI||3:25am EDT||1,403.13||+22.83||+1.65%|
|.HNX30||HNX 30 Index||28 Apr 2020||203.60||+1.94||+0.96%|
Have a healthy day, Keep the Faith!
Latest posts by HEFFX Australia (see all)
- All Tesla (NASDAQ:TSLA) Cars Being Produced Now Have Full Self-Driving Hardware - October 29, 2020
- Facebook (NASDAQ:FB) Not-so-happy Days - October 29, 2020
- Apple (NASDAQ:AAPL) Stock Hit Hard by Virus and Election - October 29, 2020