Japan's Nikkei 225 (N225) gained 2.6%, making it easily the region's best performer. China's Shanghai Composite (SHCOMP) was up 0.8%, while Hong Kong's Hang Seng (HSI) and South Korea's Kospi (KOSPI) each rose 0.6%.
All of those indexes are on pace to report weekly gains after the tremendous downward spiral that characterized much of March — though not enough to to pull Japan, South Korea and Hong Kong out of bear markets.
"Overall, there has been a general shift to neutrality from the perfect bear market conditions late last week, which is a good thing," wrote Stephen Innes, chief global markets strategist at AxiCorp, in a research note.
Australia's S&P/ASX 200 was a major regional outlier Friday. The S&P/ASX 200 closed down 5.3% in Sydney, though it eked out a 0.5% gain for the week.
India's Sensex also fell, last trading down 0.9%. The Reserve Bank of India on Friday announced a slew of new measures to help the Indian economy function during the coronavirus crisis, and slashed interest rates across the board.
India on Thursday recorded its largest spike in coronavirus cases so far, and now has more than 700 cases nationwide.
US stock futures, meanwhile, tumbled in premarket trading. Dow futures were last down 410 points, or 1.9%, erasing slight gains made earlier in the evening. S&P 500 (SPX) futures were down around 2.1% and Nasdaq futures lost about 1.9%.
The uneasiness followed a strong performance from US stocks on Thursday, which climbed despite the worst jobless claims data on record.
The Dow finished up 6.4%, or 1,352 points, emerging from the bear market it fell into on March 11. The S&P 500 (SPX) ended the day up 6.2%, and the Nasdaq (COMP) rose 5.6%.
Investors remained optimistic as US lawmakers put the finishing touches on a $2 trillion stimulus bill that will provide a boost to the economy, which has been battered by coronavirus. The Senate passed the bill 96-0, and the House of Representatives is expected to vote on the legislation Friday.
"The market is running with the assumption that while this tumult will be the deepest recession in modern-day financial history, it will also be the shortest," Innes wrote.
Even with some market gains this week, the coronavirus outbreak that threw financial markets out of whack this month continues to spread. Nearly a third of the world's population is living under coronavirus-related restrictions, and the United States now has the highest number of known cases of coronavirus globally with more than 82,000.
-- CNN's Vedika Sud and Swati Gupta contributed to this report.
https://www.cnn.com/2020/03/26/investing/global-stocks/index.html
2020-03-27 06:43:05Z
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