Markets in the region strengthened on Tuesday as they recovered from steep losses the day before.
Japanese Nikkei(N225) it rose 3.3% in morning trading, holding gains after the Bank of Japan kept interest rates unchanged.
Bank of Japan He said will closely monitor the impact of Covid-19 and “will not hesitate to take additional mitigation measures if necessary”.
South Korea Kospi(KOSPI) jumped 4% after recording its worst day since March on Monday. The Korean index is now underway for the best day since March, when the market was also hit by volatility. Hong Kong Hang Seng index(HSI) advanced 2.8%, while they are Chinese Shanghai Composite(SHCOMP) added 1.1%.
The support followed a wild day on Wall Street overnight. Dow(indu) in turbulent trading it crossed more than 1,000 points before the day ended by 158 points or 0.6% more. S&P 500(SPX) ended up 0.8% more, a Nasdaq Composite(COMP) climbed 1.4%.
Dow(indu) futures last was 290 points, or 1.1%. S&P 500(SPX) future and Nasdaq(COMP) The future increased by 1%.
Stocks fell sharplyin the United States on Monday at the opening of the bell as investors were intimidated by the recurrence of Covid-19 cases in the United States as well as in China. But the market soon recovered. The Federal Reserve’s action helped strengthen sentiment: The Central Bank has finally launched its Main Street Loan Program to help small and medium-sized businesses, and has also committed to buying corporate bonds.
Investors in Asia, meanwhile, are waiting for a decision on the Bank of Japan’s policy later in the day. Markets expect the central bank to keep its monetary policy unchanged after the introduction of government huge incentive efforts to protect the economy from coronavirus outbreaks.
In the oil trade, U.S. oil prices fell 0.5% on Tuesday in Asia to $ 36.95 a barrel. Brent, the global oil benchmark, lost 0.5% to $ 39.53 a barrel. The two contracts agreed more on Monday, both by more than 2%.
Since the data for retail and industrial production in the US should be released on Tuesday. Fed Chairman Jerome Powell will testify in front of Congress this week.
