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Coronavirus: Asia markets rise after US stimulus package agreed

Coronavirus: Asia markets rise after US stimulus package agreed

World
President Donald Trump and the US Senate have agreed an economic relief package worth more than $ 1.8 trillion (£1.5tn), sending Asian shares higher.Markets had rocketed on Wall Street and in London on Tuesday in anticipation of a deal being struck.On Wednesday, Japan's benchmark Nikkei 225 index was up 7.9% following news of the relief deal.The stimulus package includes money to bail out industries that have been affected by the crisis. In the US, the Dow Jones Industrial Average saw its biggest one-day gain since 1933 on Tuesday, surging 11.4% although the deal had not yet been signed.In Asia, the Hang Seng index in Hong Kong rose 3.1%, and China's Shanghai Composite was up by 2% in We
China aims to be a stabilizing force as global financial markets gyrate

China aims to be a stabilizing force as global financial markets gyrate

Finance
A staff worker wearing a protective mask and protective suit checks a visitor's body temperature with a temperature gun by a monitor showing the current stock information at the Shanghai Stock Exchange Building on March 20, 2020 in Shanghai, China. Health authorities of China said the country has passed the peak of the COVID-19 epidemic on March 12.Yifan DingBEIJING — In face of the new coronavirus' shock to global financial markets, China aims to be a stabilizing force — beginning with its own markets.Amid calls from global leaders for more international cooperation, it's still unclear to what extent it's possible at this point. And when it comes to China, there are pressing domestic issues that authorities need to consider, such as high debt levels, need for foreign capit
Pound at 35-year low as markets react to ‘magnitude of pandemic’

Pound at 35-year low as markets react to ‘magnitude of pandemic’

Business
Global stock markets have hit reverse again while the pound is at its lowest level against the dollar in 35 years as investors flee ever deepening gloom over the coronavirus crisis.The FTSE 100 plunged by just over 4% on Wednesday to 5,080 points - wiping out strong gains seen the day before - despite "unprecedented" measures announced by chancellor Rishi Sunak to help businesses and households weather the storm. Markets had been lifted on Tuesday by the promise of stimulus measures, with New York's Dow Jones climbing more than 5% after US President Donald Trump unveiled plans for an $ 850bn stimulus package, including help for airlines. But it took less than 24 hours for the enthusiasm to fade, with Asian markets falling again overnight and the US and European indices following, firml...
Europe’s share markets rise as global sell-off eases

Europe’s share markets rise as global sell-off eases

Business
European stock indexes are recovering some ground after huge falls on Thursday.Markets have seen volatile trading as investors weigh the effect of the coronavirus against measures aimed at easing its economic impact.Share markets across the Asia-Pacific region, including Japan, Australia and India, have experienced major swings.It came after the Dow and S&P 500 in the US saw their biggest one-day declines since 1987.In recent days authorities around the world have announced emergency measures in an attempt to avoid recession.On Friday, the UK's Financial Conduct Authority (FCA) prohibited short selling of a raft of shares in Italian and Spanish firms, after a request from authorities in those countries for the action, which is designed to protect that...
Calm returns to markets after share turmoil

Calm returns to markets after share turmoil

Business
Stock markets in Europe have opened higher following Monday's plunge, when shares saw the biggest falls since the 2008 financial crisis.London's FTSE 100 share index rose more than 2% after having sunk 7.7% in the previous session.Markets were battered on Monday in reaction to the threat of an oil price war between Russia and Saudi Arabia.But after falling as much as 30% on Monday, oil prices also saw some recovery, with Brent crude rising 4%. The main share indexes in France and Germany were also up by more than 2% on Tuesday morning. The response has been a fairly standard one when it comes to stock market behaviour, said Kathleen Brooks, director at Minerva Analysis."Markets are so emotional, it...