Asian stocks higher amid rebound from selloff

Thursday, 05. March 2020 07:24

Stock markets in the Asia-Pacific region traded higher on Thursday amid their recovery from the last week's selloff, sparked by the spread of the novel coronavirus (COVID-19). In South Korea, the government announced yesterday that it will look to allocate 11.7 trillion won ($9.9 billion) to ease the negative economic consequences of the virus. Meanwhile, Chinese health authorities reported that more than 3,000 people have died due to COVID-19 in the mainland part of the country.

The Nikkei 225 index rose by 1.09% at the end of the trading session. The Shanghai Composite jumped 1.87% at 7:05 am CET and the Shenzhen Composite Index increased by 2.00% at 7:21 am CET. The Hang Seng gained 2.10% at the same time, while the Kospi was 1.01% up at 7:23 am CET. The S&P/ASX 200 in Australia was 1.11% higher at the close.

The dollar was 0.15% down compared to the yen, going for 107.3430 at 7:22 am CET.

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Breaking the News / MS