Australia and New Zealand stock indexes on Tuesday surged to their highest in more than two months, fuelled by mounting hopes of a global economic recovery as more countries emerge from the coronavirus-induced lockdown.

The S&P/ASX 200 index advanced more than 2% for the 2nd straight session and ended 2.9% firmer at 5,780 pts. The benchmark hit the highest mark since 11 March and enjoyed its best session since 9 April.

In New Zealand, which reported a monthly trade surplus in April, the main S&P/NZX 50 bourse closed 1.3% higher at 10,914.74 pts after touching its highest since 11 March.

Japanese stocks climbed Tuesday to their highest in 3 months as investors cheered Prime Minister Shinzo Abe’s decision to lift the state of emergency and end C-19 coronavirus chaos-induced restrictions nationwide.

The benchmark Nikkei average advanced 2.6% at 21,271.17, its highest close since 5 March, with air and land transport companies leading the rally.

The broader Topix gained 2.2% at 1,534.73, its highest close since 28 February, with all 33 sector sub-indexes on the Tokyo exchange finishing higher.

Chinese shares rose Tuesday, lifted by hopes for policy support to revive an economy emerging from lockdowns to curb the spread of The China Virus.

At the midday break, the Shanghai Composite index was 0.71% higher at 2,837.88 pts.

China’s blue-chip CSI300 index rose 0.78%, with its financial sector sub-index up 0.44%, the consumer staples sector up 0.01%, the Real Estate index up 0.24% and the healthcare sub-index up 1.54%.

Chinese H-shares listed in Hong Kong rose 1.57% at 9,614.31, while the Hang Seng Index was up 1.87% at 23,381.44.

The smaller Shenzhen index was up 1.62% and the start-up board ChiNext Composite index was 2.48% higher.

Most Southeast Asian stock markets rose Tuesday as reopening economies and China stimulus expectations lifted investor sentiment

Singapore stocks rose 1.5%, with investors looking past a bleak economic outlook to the latest multi-billion dollar economic package expected to be announced later in the day.

Vietnam shares hit their highest since early March amid plans of a 15.84-Y dong ($679-M) cut in corporate income tax for small-sized enterprises this year to help them sail through the impact from the C-19 coronavirus chaos

Thai stocks advanced 1.8% to their highest in nearly 3 months, with financials leading the gains.

Thailand plans to boost domestic tourism in Q-3 the state planning agency said.

Philippine stocks fell as much as 2.6% to their lowest marks in a month.

ASIA-PACIFIC INDICES

Data as of 26 May 2020. All quotes delayed at least 15 mins.

Have a healthy week, Keep the Faith!

  Asia-Pacific, markets, stock, world

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Paul Ebeling

Paul A. Ebeling, a polymath, excels, in diverse fields of knowledge Including Pattern Recognition Analysis in Equities, Commodities and Foreign Exchange, and he it the author of "The Red Roadmaster's Technical Report on the US Major Market Indices, a highly regarded, weekly financial market commentary. He is a philosopher, issuing insights on a wide range of subjects to over a million cohorts. An international audience of opinion makers, business leaders, and global organizations recognize Ebeling as an expert.   

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