Signs that more nations are slowly but steadily emerging from coronavirus lockdowns sent Asian markets soaring Tuesday.
The Nikkei index in Tokyo closed 2.5% higher, while Hong Kong’s benchmark index earned 2.1% by late afternoon. The S&P/ASX in Sydney was up 2.9%, Shanghai had gained 0.8%, Seoul’s KOSPI index was 1.6% higher, and Taiwan’s TSEC index was up 1.1%.
Oil markets are also riding high Tuesday, with U.S. crude selling at $34.49 per barrel, up 3.7%, while Brent crude, the international benchmark, selling at $36.30 per barrel, up 3.3%.
Meanwhile, the Dow Jones, S&P 500 and Nasdaq were all trading over 2% in futures trading, indicating a good opening for Wall Street as it returns from a long Memorial Day holiday weekend.
Investor optimism is on the rise again with Japan lifting a nearly two-month state of emergency for Tokyo, which was briefly extended nationwide, along with a promise from China’s central bank to push down borrowing costs and “support development of the real economy.”
