Asian stocks rally after NASDAQ enters positive territory

08.05.2020 - Korneychuk Evgeniya
Asian stocks rally after NASDAQ enters positive territory

Asian shares ended on a week high during the previous session after NASDAQ entered positive territory for the first in the year.

Japan’s Nikkei led the rally, gaining 2.07% at 10:53 PM ET (3:53 AM GMT) after the nation had granted “exceptional approval” to Gilead Sciences’ experimental drug Remdesivir. The potential treatment for COVID-19 patients received FDA emergency-use authorization earlier in May.

Japan’s Fujifilm Holdings had also revealed the development of a PCR reagent that could speed up testing from 4-6 hours to 75 minutes. 

China’s Shanghai Composite inched up by 0.62%, while the Shenzhen Component gained 0.91%. The gains come after negotiations between the U.S. and China led the two largest economies to support the first phase of a trade agreement.

Meanwhile, Hong Kong’s Hang Seng Index climbed by 1.02%, while South Korea’s KOSPI gained 1.27%.

Down Under, the S&P/ASX gained 0.73% after the Reserve Bank of Australia (RBA) released its monetary policy statement on Friday morning. 

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?