Asia-Pacific markets surge on reopening hopes

Tuesday, 19. May 2020 07:33

Asia-Pacific stock markets traded higher on Tuesday led by the Nikkei's surge which extended gains after a report suggested Japan will be lifting the state of emergency in Osaka, Kyoto and Hyogo prefectures on May 21. Another report suggested SoftBank is looking to sell an additional portion of its stake at T-Mobile US via a secondary offering. Meanwhile, Australia's Minister David Littleproud asserted his country is not in a trade war with China.

The Nikkei 225 index jumped 1.89% or 380 points at 7:27 am CET. In mainland China, the Shanghai Composite rose by 0.64% at 7:13 am CET and the Shenzhen Composite Index concurrently increased by 0.86%. Hong Kong's Hang Seng soared 1.87% or 452 points at 7:29 am CET. South Korea's Kospi Composite was up 2.27% at 7:33 am CET and Australia's S&P/ASX 200 gained 2.03% at 7:11 am CET.

The dollar stood flat against the yen to sell for ¥107.3885 at 7:27 am CET.

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Breaking the News / ND