On Tuesday, South Korea reported less than 50 new cases of infection for the second day in a row. Moreover, as of April 6, China also reported no new deaths for the first time since January. As a reminder, China started to publish daily updates in January. The coronavirus that started in China reached most of the countries in the world. Positive news helped to boost the stocks across the region.
Moreover, over the weekend the number of daily coronavirus cases in the U.S. fell, but it is too early to determine a lasting trend.
Let’s have a look at the stocks in Asia. On Tuesday, South Korea, the Kospi index added 1.77% to close at 1,823.60 as the shares of index heavyweight Samsung Electronics jumped 1.85%.
However, Australia’s S&P/ASX 200 ended its trading day 0.65% lower at 5,252.30.
Stocks on April 7
Hopefully, stocks in stocks across the Asia Pacific. It is not a secret China has one of the largest economies in the world so it makes sense, to start with Chinese stocks. On April 7, mainland Chinese stocks returned to trade following a holiday.
Moreover, Chinese stocks led gains among the region’s main markets. For example, the Shenzhen composite surged 3.184% to about 1,743.37. In the meantime, the Shenzhen component added 3.15% to 10.428.91.
At the same time, the Shanghai composite rose 2.05% to around 2,820.76.
In Japan, Nikkei 225 gained 2.01% to close at 18,950.18. Moreover, the Topix index added 1.96% to end its trading day at 1,403.21. The country’s Prime Minister Shinzo Abe stated that the country will spend $357 billion as part of the stimulus package. His speech had a positive impact on stocks.
Investors are closely monitoring the situation and any positive news connected with coronavirus, is important for the stock markets.