Investors across the Asia Pacific region are rather more upbeat. They have been welcoming the Fed’s extended stimulus measures.
The Australian and Japanese benchmark stock indices closed 3.4% and 4.2% higher earlier this morning. In markets that open a little later, the numbers are also positive ranging from mainland China’s 2.7% gain to South Korea’s 8.6% rise.
South Korea’s rise has been further fuelled by the country’s actions combining major stimulus measures and movement restrictions.
Back in the Hubei province of China, the CENTRE NOT THE EPICENTRE of the original pandemic, contamination rates are falling sufficiently for the regional government to feel it can start relaxing travel restrictions. That’s sort of good news but paints a bleak picture for the rest of the world. It had cases in December (possibly earlier) and is now, three months later, beginning to relax travel restrictions. And that’s in a police state.
Sorry to be the bringer of nasty news, but that gives us all an idea of how long this thing will last until a cure or vaccine can be found, mass-produced, distributed and prescribed.
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