SYDNEY (Reuters) – Asian shares bounced on Monday as the Bank of Japan (BOJ) announced more stimulus steps to help cushion the financial impact of the coronavirus, while oil took another spill as the world ran short of space to save it.
SUBMIT PHOTO: A pedestrian wearing a face mask walks near an overpass with an electronic board showing stock info, following a break out of the coronavirus disease (COVID-19), at Lujiazui monetary district in Shanghai, China March 17,2020 REUTERS/Aly Song
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1.8%, taking back a chunk of recently’s 2.6?crease. Japan’s Nikkei gained 2.6%, and Chinese blue chips 1%.
After a soft start, E-Mini futures for the S&P 500 climbed 1%, while EUROSTOXX 50 futures included 2.6%and FTSE futures 1.5%.
The BOJ matched market speculation by promising to buy limitless quantities of government bonds, eliminating its previous target of 80 trillion yen annually.
It dramatically raised purc