Asian stocks follow the Wall Street rally
Asian stocks went up on May 5. The markets followed the latest rally on Wall Street, inspired by the easing of the quarantine measures across the world.
Oil and gas saw gains as well - the market expects a surge in demand when the economy restarts. Brent crude gained 4.3% and reached US$28.37 per barrel, growing for the sixth day straight. US crede gained US$1.38, reaching US$21.77.
Korean, Japanese and Chinese exchanges are still on holiday. Meanwhile ASX gained 1.26% and Hang Seng gained 0.66%. US stock futures saw a 0.75% growth.
Wall Street rally was mostly inspired by the Big Tech successes: Amazon, Apple and Microsoft. The behemoths managed to offset a new wave of losses of airlines - their shared dropped by 5%-8%. Warren Buffet recently revealed that Berkshire Hathaway dropped its air carrier assets. S&P 500 went up 0.42%.
MSCI Asia-Pacific index gained 0.56%.