Asia shares surge to 3-month high despite risks

03.06.2020 - Davydova Maria
Asia shares surge to 3-month high despite risks

Asian shares surged to a near three-month peak on Wednesday amid hopes of economic stimulus and easing lockdowns. These factors outweighed investors’ caution over the pandemic and the ongoing U.S. protests.

MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1.3%, its fifth day of gains.

Japan’s Nikkei was up 1.2%, its highest level since February. China’s CSI300 gained 0.4% to a 12-week high.

S&P 500 e-mini futures rose 0.2% in early trade.

MSCI’s world stocks were up 0.3%, boosting nearly 36% from its record low on March 23.

In China, service sector activity has recovered to levels seen before the pandemic. However, analysts cautioned traders on the price rallies as several risks still threaten global economic recovery. The U.S.-China tensions and growing anti-racism protests in the United States were among the risks.

The 30-year U.S. Treasuries yield was up 1.532%, its highest since March.

Oil prices rose over 1% to a near three-month peak. WTI crude futures were up 1.9% to $37.50, while Brent surged 1.2% to $40.04 per barrel.

Gold was flat at $1,728 an ounce.

Risk disclaimer "Market Solutions Ltd – Suite 305 Griffith Corporate Centre P.O. Box 1510 Beachmont, Kingstown, St Vincent and the Grenadines is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0128 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of Market solutions Ltd and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.ai or Market Solutions limited." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue
×

Help with deposit?