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Health & Fitness Asia shares mostly rise after meandering on pandemic worries

10:22  15 may  2020
10:22  15 may  2020 Source:   msn.com

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Asian shares were mostly lower after gyrating in early trading amid uncertainty over the coronavirus outbreak. In Asia , Japan's state of emergency kicked in, focused on seven urban areas, including Tokyo, with strong government requests for people to stay home and restaurants and stores to close

TOKYO (AP) — Asian shares were mixed Thursday as worries about the pandemic 's damage to the global economy swirled with glimmers of hope about some regions reopening gradually to business as usual. Comments by President Donald Trump on trade with China and blaming Beijing for the

A currency trader talks near screens at the foreign exchange dealing room in Seoul, South Korea, Friday, May 15, 2020. Asian shares were mixed Friday as markets meandered on news about economies reopening, mixed with worries about the prolonged health risks from the new coronavirus. (AP Photo/Lee Jin-man) © Provided by Associated Press A currency trader talks near screens at the foreign exchange dealing room in Seoul, South Korea, Friday, May 15, 2020. Asian shares were mixed Friday as markets meandered on news about economies reopening, mixed with worries about the prolonged health risks from the new coronavirus. (AP Photo/Lee Jin-man)

TOKYO (AP) — Asian shares were mostly higher Friday after meandering on news about economies reopening, mixed with worries about the prolonged health risks from the new coronavirus.

Japan's benchmark Nikkei 225 recouped earlier losses to finish at 20,037.47, up 0.6%. South Korea's Kospi gained 0.2% to 1,927.88. Australia's S&P/ASX 200 added 1.4% to 5,404.80. Hong Kong's Hang Seng was little changed, falling less than 0.1% to 23,811.51, while the Shanghai Composite inched up 0.2% to 2,875.59.

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Asian shares were mostly lower after gyrating in early trading amid uncertainty over the coronavirus outbreak. Japan’s Nikkei 225 inched up in Wednesday In Asia , Japan's state of emergency kicked in, focused on seven urban areas, including Tokyo, with strong government requests for people to stay

TOKYO — Asian shares were mostly lower, gyrating in early Wednesday trading amid uncertainty over the coronavirus outbreak, which continues to The rally on Wall Street suddenly vanished in a market dominated by sharp swings responding to the ups and downs of the news about the pandemic .

“Bright spots in the markets and the economy should not breed complacency about being out of the woods," Riki Ogawa of Mizuho Bank said. “Fact is, even as economies prepare to emerge from varying degrees of lockdown, restoration of ‘normalcy’ is a much longer road.”

A currency trader walks near the screens showing the Korea Composite Stock Price Index (KOSPI), center, and the foreign exchange rates at the foreign exchange dealing room in Seoul, South Korea, Friday, May 15, 2020. Asian shares were mixed Friday as markets meandered on news about economies reopening, mixed with worries about the prolonged health risks from the new coronavirus. (AP Photo/Lee Jin-man) © Provided by Associated Press A currency trader walks near the screens showing the Korea Composite Stock Price Index (KOSPI), center, and the foreign exchange rates at the foreign exchange dealing room in Seoul, South Korea, Friday, May 15, 2020. Asian shares were mixed Friday as markets meandered on news about economies reopening, mixed with worries about the prolonged health risks from the new coronavirus. (AP Photo/Lee Jin-man)

Parts of Japan are gradually easing requests for people to stay home and for some businesses to stay closed, while worries deepen over case numbers rising.

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TOKYO — Asian shares were mostly lower, gyrating in early Wednesday trading amid uncertainty over the coronavirus outbreak, which continues to The rally on Wall Street suddenly vanished in a market dominated by sharp swings responding to the ups and downs of the news about the pandemic .

Asian stock markets were boosted Wednesday after the S&P 500 rose above 1,900 for the first time, but European markets meandered ahead of a likely flat start to U.S. trading. Elsewhere in Asia , shares were mostly higher. South Korea's Kospi added 1.4 percent to 2,010.83 and the Hang Seng

The Keidanren, which represents more than 1,000 Japanese companies and regional economic groups, released guidelines for safer work, including instructions on having office workers coming into the office just three days each week to minimize commutes, and adapting workplaces for social distancing.

A currency trader walks near a screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room in Seoul, South Korea, Friday, May 15, 2020. Asian shares were mixed Friday as markets meandered on news about economies reopening, mixed with worries about the prolonged health risks from the new coronavirus. (AP Photo/Lee Jin-man) © Provided by Associated Press A currency trader walks near a screen showing the Korea Composite Stock Price Index (KOSPI) at the foreign exchange dealing room in Seoul, South Korea, Friday, May 15, 2020. Asian shares were mixed Friday as markets meandered on news about economies reopening, mixed with worries about the prolonged health risks from the new coronavirus. (AP Photo/Lee Jin-man)

Overnight, Wall Street rallied back from a sharp morning drop.

The S&P 500 climbed 1.2% to 2,852.20 in another scattershot day of trading, with many stocks flipping from the bottom of the leaderboard to the top following a few sharp reversals in momentum.

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TOKYO (AP) — Asian stock markets were boosted Wednesday after the S&P 500 rose above 1,900 for the first time, but European markets meandered Elsewhere in Asia , shares were mostly higher. South Korea's Kospi added 1.4 percent to 2,010.83 and the Hang Seng in Hong Kong perked up after

After a surge in cases tied to international travelers, China, Hong Kong, Singapore and other places that seemed to have the epidemic under Citizens who were worried about outbreaks in Europe and the United States rushed home after finding themselves in the new epicenters of the pandemic .

Wall Street has been wavering for weeks as it digests gargantuan moves the market made earlier this year, first down more than 30% on worries over the coming recession and then up more than 30% on hopes for a relatively quick rebound.

Trading has been particularly erratic this week, as investors rethink bets that the reopening of economies around the world will allow for a relatively quick return of growth. Another possible flare-up in tensions between the world’s largest economies is also hitting markets, with comments from President Donald Trump about China further weighing on them Thursday.

A currency trader talks on phone near screens showing the Korea Composite Stock Price Index (KOSPI), right, and the foreign exchange rate at the foreign exchange dealing room in Seoul, South Korea, Friday, May 15, 2020. Asian shares were mixed Friday as markets meandered on news about economies reopening, mixed with worries about the prolonged health risks from the new coronavirus. (AP Photo/Lee Jin-man) © Provided by Associated Press A currency trader talks on phone near screens showing the Korea Composite Stock Price Index (KOSPI), right, and the foreign exchange rate at the foreign exchange dealing room in Seoul, South Korea, Friday, May 15, 2020. Asian shares were mixed Friday as markets meandered on news about economies reopening, mixed with worries about the prolonged health risks from the new coronavirus. (AP Photo/Lee Jin-man)

The Dow Jones Industrial Average rose 1.6% to 23,625.34. The Nasdaq composite gained 0.9% to 8,943.72 after erasing its earlier loss of 1.8%.

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Asian stock markets were boosted Wednesday after the S&P 500 rose above 1,900 for the first time, but European markets meandered ahead of a likely flat start to U.S. trading. Elsewhere in Asia , shares were mostly higher. South Korea's Kospi added 1.4 percent to 2,010.83 and the Hang Seng

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Thursday’s turnaround was powered in large part by a rally for stocks that have been pummeled for much of this year: banks.

Financial stocks in the S&P 500 jumped 2.6% for the biggest gain among the 11 sectors that make up the index. Wells Fargo rose 6.8%, and Bank of America added 4%. Through much of this year, investors have sold bank stocks on worries that low interest rates and the severe recession will mean less profit for making loans.

By the end of trading, more than 75% of stocks in the S&P 500 were higher. In the morning, more than 90% were down.

Before the recession hit, U.S. stocks quickly lost just over a third of their value as investors anticipated an avalanche of layoffs hitting the economy. Those fears have turned out to be true, and a report on Thursday showed that nearly 3 million U.S. workers filed for unemployment benefits. That brings the total to roughly 36 million in the two months since the pandemic caused widespread orders for people to stay at home and businesses to shut down.

But stocks began climbing in late March after massive amounts of aid promised by the Federal Reserve and Capitol Hill convinced markets that the worst-case scenario of a financial crisis wouldn’t be happening.

Many professional investors have warned the rally has been overdone, given how much uncertainty exists about how long the recession will last.

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Recently, worries about renewed U.S.-China tensions have also weighed on markets. A bruising trade war between the two had dragged on the global economy before the pandemic hit.

“I have a very good relationship,” with China’s leader, Xi Jinping, Trump said in an interview with Fox Business Network, “but I just — right now, I don’t want to speak with him. I don’t want to speak with him.”

Trump also said the government is considering barring Chinese stocks trading on U.S. exchanges unless they follow U.S. accounting rules.

“We have all the challenges internally with the economy being shut down, but us getting into a conflict with China adds an additional dimension of uncertainty,” said Mark Hackett, chief of investment research at Nationwide.

The yield on the 10-year Treasury was steady at 0.62%. It tends to fall when investors are downgrading their expectations for the economy and inflation.

In Asia Friday, U.S. benchmark crude added 63 cents to $28.19 a barrel. Brent, the international standard, added 95 cents to $32.08 a barrel.

The U.S. dollar rose to 107.22 Japanese yen from 107.25 yen. The euro was virtually unchanged at $1.0806, from $1.0805.

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AP Business Writers Stan Choe, Damian J. Troise and Alex Veiga contributed.

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