Asian stocks rebound as investors take heart from US pledge
Federal Reserve promise of bottomless liquidity eases bond market stress
24 March 2020 - 07:43
Sydney — Asian stocks rebounded sharply on Tuesday as the US Federal Reserve’s promise of bottomless dollar funding eased painful strains in financial markets, even if it could not soften the immediate economic hit of the coronavirus.
While Wall Street seemed unimpressed, investors in Asia were encouraged enough to lift E-Mini futures for the S&P 500 by 3% and Japan’s Nikkei 6.2%. If sustained it would be the biggest daily rise for the Nikkei since late 2016...
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