Asian shares soar as plans to re-open U.S. economy aid weak China GDP

17.04.2020 - Korneychuk Evgeniya
Asian shares soar as plans to re-open U.S. economy aid weak China GDP

Asian stocks recorded a well-ended session on Friday. The upbeat performance was mainly from President Donald Trump’s decision of reopening the U.S. economy, completely supporting the frail gross domestic product of China.

MSCI’s broadest index of Asia-Pacific shares outside Japan advanced with a 2.6% gain. This followed after the index hit a five-week high record. China shares (CSI300) hiked 1.8% as GDP figures boosted expectations that more stimulus will be implemented.

S&P 500 E-Mini futures increased 3.38% while Australian shares soared up to 2.62%.

The virus pandemic and lockdown restrictions posed a sharp downturn as figures from China indicated that the world’s second-biggest economy diminished for the first time since 1992. The gross domestic product reversed by up to 6.8% in the quarter year-on-year. It placed above expectations but still way lower than the initial record of 9.8% from the previous quarter.  

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 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 PROMETHEUS 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 or PROMETHEUS LTD." 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?