Asian stock markets hit a seven-week high

Asian stock markets hit a seven-week high

Asian markets hit a seven-week high after the Coronavirus affected various economic concerns and global business activity, while Wall Street saw a decline in the index of technology firms.

According to the British news agency 'Reuters', Euro stocks 50 futures rose 0.4 percent while Germany's Docks Index and London's FTSE rose 0.7, 0.7 percent.

The surge this month was triggered by a global monetary policy stimulus to reduce the economic impact of the global coronavirus outbreak.

On the other hand, there has been a recent increase in positive news about possible treatment for the coronavirus and advances in vaccine development.

Further easing of sanctions in the United States, Europe, and Australia, while New Zealand allowed some business centers to open this week, boosting investor confidence that the virus may be on the rise.

The move is expected to help boost US crude demand, which rose 11 percent to .6 13.66 a barrel, while Brent rose 3.6 percent to 21 2,120 a barrel.

Outside of Japan, Asia Pacific's MSCI Broadest Index rose 0.7 percent to 3.3 percent this week.

At the start of the day, it touched a high of 471.86, the highest since March 12, but Japanese markets were closed due to a public holiday.

Shares of Australia closed 1.2% higher, led by energy firms, while shares of South Korea rose 0.8% and the Chinese market index rose by 0.2%.

Investors on Wall Street last night saw shares of three major technology companies fall, and US stocks in all three fell to their lowest levels.

The Dow Jones Industrial Average fell 0.3 percent, the S&P 500 fell 0.5 percent and the Nasdaq Composite fell 1.4 percent.

Investors are now awaiting the results of other technology firms, including Amazon, Apple Earnings, and Microsoft Corporation.

The dollar rose to 106.52 against the Japanese yen in early trade on fears of a rapid spread of the coronavirus due to the early reopening of trading.

The euro gained 0.3 percent to 0 1.0852, while the dollar index fell 0.2 percent against other currencies.


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