Asian shares up on China efforts despite virus worries

Asian shares rose Wednesday on optimism that China’s latest actions may help curtail some of the expected economic damage from the virus outbreak.

Japan’s benchmark Nikkei 225 gained 1.1% to 23,330.11 in morning trading. Australia’s S&P/ASX 200 added 0.3% to 6,967.20. South Korea’s Kospi was up 0.5% at 2,169.29. Hong Kong’s Hang Seng edged up nearly 0.9% to 26,910.45, while the Shanghai Composite jumped nearly 2.0% to 2,836.68.

“Risk sentiment remains on the mend, setting Asia markets up for intraday gains. Although this remains the ebb and flow around an issue such as the coronavirus with the impact still under assessment,” said Jingyi Pang, market strategist at IG in Singapore.

Shared On DLIKE

---