SYDNEY (Reuters) – Asian shares rallied for a fourth straight session on Thursday as U.S. markets swung sharply higher and another dose of central bank stimulus offered some salve for the global economic outlook.
FILE PHOTO: People wearing protective face masks, following an outbreak of the coronavirus, are reflected on a screen showing Nikkei index, outside a brokerage in Tokyo, Japan February 28, 2020. REUTERS/Athit Perawongmetha
Wall Street seemed to find relief in the strong performance of former Vice President Biden in the Democratic nomination campaign. Biden is considered less likely to raise taxes and impose new regulations than rival Bernie Sanders.
The U.S. House of Representatives also approved an $8.3 billion funding bill to combat the spread of the virus, sending the emergency legislation to the Senate.
In another wild swing, the Dow .DJI surged 4.53%, while the S&P 500 .SPX gained 4.22% and the Nasdaq .IXIC 3.85%. [.N]
Asian markets followed, if more cautiously. MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS added 0.7%, in its fourth day of gains.
Japan’s Nikkei .N225 rose 0.9% and hard-hit Australian shares finally managed a bounce of 1.1%. Shanghai blue chips .CSI300 put on 1.3%.
E-Mini futures for the S&P 500 ESc1 dipped 0.6% after its overnight jump, but EURO