Forex Marketz Daily Forex News – Fully Markets Update
The Asian and Pacific Rim markets are broadly higher on Monday despite the alarming spike of new Covid-19 (coronavirus) cases in the region and in the United States.
Australia has issued strict lockdown procedures in Victoria. They are also now making returning citizens pay for quarantine and are not allowing non-citizens into the country as new cases rise.
There are also alarming spikes stateside in Florida, California, Texas and other populous areas.
The Asian benchmark, in Japan, the Nikkei 225, was able to add 1.4 percent by late morning hours. Shares of high-tech behemoth Softbank added three percent. Shares of robotics company Fanuc also added three percent.
In Tokyo, the broader Topix index added 1.55 percent by the late morning.
Across the Korean Strait, the South Korean Kospi composite index was up 1.12 percent and elsewhere in the Asian and Pacific Rim, the Australian S&P ASX 200 was up 0.87 percent.
In Hong Kong, the Hang Seng index was up 0.47 percent as shares of HSBC bank surged over 3.1 percent.
On the mainland, in China, despite U.S. President Donald Trump saying that the relationship between the United States and China is very bad over the coronavirus pandemic, shares were trading mixed. President Trump also said he has no interest in negotiated the second phase of the trade deal.
The Shanghai composite was down a quarter of a percent and shares on the smaller Shenzhen composite were up 0.74 percent.
Asian Traders Shrug off Covid-19 Concerns
On Sunday, the World Health Organization (WHO) reported a daily record high of new coronavirus cases around the world.
In the United States, in Florida, there were over 15,000 new cases. This was the highest daily total for any state in the union since the Covid-19 pandemic started back at the beginning of the year.
