Global shares advance on possible virus cure

24.08.2020 - Petr Mazaylo
Global shares advance on possible virus cure

Asian shares recorded two consecutive sessions of gains on Monday. This could be attributed to investors’ upbeat sentiment after the U.S. Food & Drug Administration (FDA) authorized the use of blood plasma from recovered patients as an option to cure the coronavirus.

MSCI’s broadest index of Asia-Pacific shares outside Japan advanced 0.65%. The index is currently heading toward a six-month peak seen last week. Meanwhile, e-mini futures for the S&P 500 tallied a 0.3% gain.

Japan’s benchmark index Nikkei jumped 0.4%, salvaging initial losses. Chinese shares were seen upbeat as the blue chips soared 0.8%. South Korea’s KOSPI climbed 0.9%, retreating from a series of declines after hitting more than a two-year high earlier this month.

Market sentiment was upbeat partly because of a Financial Times report about the United States’ plan of bypassing normal U.S. regulatory standards to expedite an experimental coronavirus vaccine from the United Kingdom.

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