Governments around the world are working hard to support the economies. Countries such as the U.S., Germany, Japan, France, and others are willing to spend billions of dollars. However, it will take time to stabilize the situation, as millions of people across the world lost their jobs. However, there are issues as well, rising tensions between the U.S. and China. This problem has the potential to affect stocks.
The trade war between the economic superpowers already caused issues. Moreover, coronavirus pandemic, as well as a controversial new security bill for Hong Kong, could jeopardize the implementation of the trade deal. As a reminder, the U.S. and China signed the partial trade deal several months ago in January.
Let’s get back to Asia. Investors are constantly analyzing the situation on the ground. Furthermore, countries located region have the potential to achieve even bigger results. However, the coronavirus pandemic created too many issues for the economies.
Stocks on June 2
On Tuesday, stocks across the Asia Pacific strengthened their positions. Governments around the world started to remove some of the restrictions. Such decisions helped to boost stocks.
On June 2, Japan’s Nikkei 225 added 1.19% to 22,325.61. Shares of index heavyweight Softbank Group soared 3.33% and this factor had a positive impact on Nikkei 225. Moreover, the Topix index gained 1.21% to 1,587.68.
Moreover, Hong Kong’s Hang Seng index also saw gains on the day.
Mainland Chinese strengthened their positions on Tuesday. The Shanghai Composite gained 0.2% to about 2,921.40. At the same time, the Shenzhen Component increased slightly to approximately 11,112.50.
South Korea’s Kospi index added 1.07% to 2,087.19.
Also, Australia’s S&P/ASX 200 closed 0.27% higher at 5,835.10.
It was a successful day for stocks across the Asia Pacific. Notably, investors are closely monitoring the situation and China, as well as the U.S., should work together to avoid the financial crisis.