Asian shares go up despite new cases
Asian stocks edged higher on May 11. Investors around the world are hopeful for economic reopenings, despite the news about the possible second wave of the coronavirus.
European markets also went positive. EUROSTOXX 50 and FTSE both gained around 1%. E-Mini for the S&P 500 had a soft start followed by a jump and ended up with 0.5% gains.
Asia-Pacific region is seeing economic reopenings. New Zealand started easing containment measures last Thursday. Japan is planning to terminate the state of emergency in the places where the pandemic has levelled off. MSCI Asia-Pacific index gained 1.1%. Nikkei added 1.5% reaching 20485 points.
Chinese CSI300 index gained 0.1%. The investors are waiting for new national production and inflation data scheduled to be released this week.
Meanwhile Europe is gradually emerging from the lockdown as well. French citizens are scheduled to leave quarantine today.
The general optimism has not been limited by the news about new cases in Wuhan and South Korea. Some forecasts warn of the second wave of the coronavirus.