Asian markets are rising as the variable week continues

Asian markets are rising as the variable week continues

Markets in the region rose on Tuesday, recovering from sharp losses the previous day. Japan Nicky (N225) increased by 3.2% in the first transactions. South Korea Kospi (ΚΟΣΠΙ) rose almost 4% after the worst day since March. The Korean index is now in rhythm for its best day since March, when markets also hit volatility. Hong Kong Hang Seng Index (HSI) advanced 2.6%, while China Shanghai Composite (ΣΚΟΜΠ) 0.9% was added.
The uptick followed a wild day on Wall Street one night. The Daou (INDU) rose more than 1,000 points in a volatile transaction before ending the day with 158 points or 0.6% higher. The S&P 500 (SPX) finished 0.8% higher, and the Compound Nasdaq (COMP) increased by 1.4%.
Daou (INDU) Future performance contracts increased by 230 points, or 0.9%. S&P 500 (SPX) futures and Nasdaq (COMP) future fulfillment contracts increased by 0.7%.

Shares fell sharply in the United States on Monday at the opening bell as investors feared the reappearance of Covid-19 cases in the United States as well as in China. But the market soon recovered. The Federal Reserve’s action helped boost sentiment: The central bank has finally launched the Main Street Lending Program to help small and medium-sized businesses and has also pledged to buy corporate bonds.

Meanwhile, investors in Asia are awaiting the Bank of Japan’s policy decision later. Markets expect central bank to keep monetary policy unchanged after government introduction mass efforts to stimulate to protect the economy from the effects of the coronavirus epidemic.

In the oil trade, U.S. crude oil contracts fell 1.1 percent to $ 36.73 a barrel during trading hours on Tuesday in Asia. Brent, the global benchmark for oil, lost 1% to $ 39.34 a barrel. The two contracts were set higher on Monday, both more than 2%.

In the future, U.S. retail and industrial production data is scheduled for release on Tuesday. Fed chairman Jerome Powell will testify before Congress this week.

– Anneken Tappe contributed to this report.

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