Asia-Pacific stocks climb back up
Asian shares saw significant gains on April 28, offsetting some of the losses of the previous week. Meanwhile US futures dropped. influenced by a new fall of oil prices.
MSCI’s Asia-Pacific index went up 0.34%. Chinese CSI300 went up 0.65%, South Korean stocks earned 0.6%. Nikkei remained mostly flat.
Euro Stoxx 50 gained 0.11%. DAX futures went up 0.28%, FTSE was lifted by 0.27%. European stocks are likely to go up in early trading.
Oil futures went down again, following the announcement of the sale of all the front-month contracts made by the largest American oil fund. Weakened demand and lack of storage space continue to dominate the market sentiments. United States Oil Fund stock tumbled down by over 16% on April 27.
US crude lost 13.6% and ended up at US$11.06. Brent crude lost 4.4% and ended up at US$19.11.
Positive data concerning the spread of the coronavirus spurred activity on markets around the world. Australia is seeing especially feverish performance with investments returning in large waves. According to Refinitiv data, the listed companies in the country raised over A$13.2 billion since this February. On April 28 A$1.15 billion were raised.