financetom
Market
financetom
/
Market
/
Global stocks rise as recovery hopes overshadow coronavirus worries
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Global stocks rise as recovery hopes overshadow coronavirus worries
May 26, 2020 9:13 AM

Global shares rose on Tuesday as hopes for economic recovery overshadowed worries over the coronavirus pandemic. Investors are shifting their focus to how various nations are adapting to getting back to business, while striving to keep new COVID-19 cases in check.

Share Market Live

NSE

France's CAC 40 was up 1% to 4,585 as the government was due to unveil support measures for the auto industry. Germany's DAX gained 0.6% to 11,458 and the FTSE 100 in Britain, which was closed for trading Monday, rose 1.2% to 6,063.

US shares were set for gains after a long weekend, with the future for the Dow industrials adding 1.9% and the future for the S&P 500 rising 1.8%.

Traders are awaiting US consumer confidence data for May and home sales for April, indicators that might give further clues into the severity of the downturn brought on by the pandemic.

"As is the financial market's wont these days ... even the slimmest of positive news on the COVID-19 front triggers a bullish immune response and another wave of the peak-virus trade," said analyst Jeffrey Halley of trading platform Oanda.

Comments from China's central bank governor on support for its slowing economy also lifted sentiment.

Yi Gang, in an interview on the bank's website, promised to push down borrowing costs for entrepreneurs and support development of the real economy. He said the People's Bank of China will pursue a more flexible monetary policy in line with official goals announced Friday by Premier Li Keqiang of helping smaller and private companies survive the coronavirus pandemic.

The interview was published as China's largely ceremonial National People's Congress holds its annual session, where other senior officials have stressed the need to push growth higher and create jobs, while steering clear of excess government spending.

In Japan, government assessments of commuter train usage showed traffic was still much less than normal on Tuesday after the country lifted its pandemic state of emergency for Tokyo and several other areas.

The relaxed precautions are meant to involve what Prime Minister Shinzo Abe has dubbed a "new lifestyle," with widespread wearing of masks and face shields.

Tokyo's benchmark Nikkei 225 jumped 2.6% to finish at 21,277.77, in a rebound to levels for the index not touched since early March.

Australia's S&P/ASX 200 surged nearly 3.0% to 5,780.00. South Korea's Kospi gained 1.8% to 2,029.78. Hong Kong's Hang Seng added 1.9% to 23,384.66, while the Shanghai Composite advanced 1.0% to 2,846.55.

Benchmark US crude gained 77 cents to $34.02 a barrel in electronic trading on the New York Mercantile Exchange. It closed at $33.25 on Friday, and markets were closed on Monday. Brent crude oil, the international standard, rose 48 cents to $36.60 a barrel.

The dollar fell to 107.52 Japanese yen from 107.69 yen late Monday. The euro rose to $1.0964 from $1.0898.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Nasdaq Tumbles Over 200 Points As Nvidia Shares Decline: Investor Sentiment Falls, But Fear Index Remains In 'Greed' Zone
Nasdaq Tumbles Over 200 Points As Nvidia Shares Decline: Investor Sentiment Falls, But Fear Index Remains In 'Greed' Zone
Sep 23, 2025
The CNN Money Fear and Greed index showed a decline in the overall market sentiment, while the index remained in the “Greed” zone on Tuesday. U.S. stocks settled lower on Tuesday, with the Nasdaq Composite falling more than 200 points during the session. The S&P 500 also ended a 3-day winning streak. Nvidia Corp. ( NVDA ) shares fell 2.8%...
Micron, Bigbear.Ai, Lithium Americas, Virgin Galactic And Amazon: Why These 5 Stocks Are On Investors' Radars Today
Micron, Bigbear.Ai, Lithium Americas, Virgin Galactic And Amazon: Why These 5 Stocks Are On Investors' Radars Today
Sep 23, 2025
After a string of strong gains that pushed major benchmarks to record levels, Wall Street eased on Tuesday. The S&P 500 fell 0.55% to 6,656.92, the Nasdaq declined 0.95% to 22,573.47, and the Dow Jones Industrial Average edged down 0.2% to 46,292.78. These are the top stocks that gained the attention of retail traders and investors throughout the day. Micron...
US STOCKS-Wall Street indexes end lower as investors weigh Powell comments
US STOCKS-Wall Street indexes end lower as investors weigh Powell comments
Sep 23, 2025
* Boeing rises on Uzbekistan deal, potential China order * Powell strikes middle path on inflation, jobs * Indexes: Dow down 0.2%, S&P 500 down 0.6%, Nasdaq down 0.9% (Updates close with volume, Micron shares up slightly after the bell) By Caroline Valetkevitch NEW YORK Sept 23 (Reuters) - U.S. stocks finished lower on Tuesday, breaking a three-session string of...
Euro zone bond yields ease as German business sentiment, US yields slip
Euro zone bond yields ease as German business sentiment, US yields slip
Sep 24, 2025
(Updates to Europe morning, adds comment) Sept 24 (Reuters) - Euro zone bond yields were modestly lower on Wednesday after data showed German business sentiment unexpectedly declined in September, while U.S. bond yields drifted lower too, as investors pondered the future outlook for policy rates. Germany's 10-year bond yield, the benchmark for the euro zone, was down nearly 2 basis...
Copyright 2023-2026 - www.financetom.com All Rights Reserved