Hopes of progress against COVID19 lift world stocks; dollar, oil fall
NEW YORK -- World stock markets rose on Tuesday led by gains in Europe and Asia as signs of progress in curbing the spread of the novel coronavirus fueled investors' appetite for risk, though a steep, late sell-off on Wall Street erased gains in US stocks.
"The rally is sentimental and a little premature because if we lift these lockdown measures too soon and try to resume economic activity, we're going to get a very severe pandemic rebound," said Indranil Ghosh, chief executive officer of Tiger Hill Capital in London. Emerging market stocks rose 2.85 percent. MSCI's broadest index of Asia-Pacific shares outside Japan closed 2.53 percent higher.
Action by central banks to ease a scramble for dollars has also helped bring some calm to markets, with massive US stimulus programs and debt issuance seen weighing on the greenback. The dollar index, tracking the greenback against 6 major currencies, fell 0.77 percent, with the euro up 0.9 to $1.0889.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Duterte seeks more funds for COVID-19 response as P270B ‘not enough’President Rodrigo Duterte asked Finance Secretary Carlos “Sonny” Dominguez III on Monday evening to look for more sources of funds, saying that the P270-billion budget the government had set aside for COVID-19 response was “not enough.” COVID19PH
Read more »
'Modified' community quarantine can be explored to flatten COVID-19 curve – studyA study from the University of the Philippines analyzes 3 possible scenarios after April 12, the day Luzon's 'enhanced community quarantine' is expected to be lifted. COVID19PH
Read more »
DFA: 6 more Filipinos abroad die from COVID-19; toll now at 55Six more Filipinos abroad have died due to the novel coronavirus disease (COVID-19), the Department of Foreign Affairs (DFA) said Monday.
Read more »
COVID-19 forces cancellation of Araw ng Kagitingan ritesThe government has canceled this year’s celebration of Araw ng Kagitingan (Day of Valor) and other events for Philippine Veterans’ Week as COVID-19 continued to menace countries around the world, including the Philippines. | FMangosingINQ
Read more »
Subic teacher essays children’s COVID-19 experience thru illustrationSUBIC, Zambales – Noelynne Joyosa, an elementary school teacher here, has illustrated a children’s awareness book on the coronavirus disease (COVID-19) pandemic entitled “Kakaibang Araw”.
Read more »
DOH: Total COVID-19 cases in PH now 3,660; 414 new casesConfirmed COVID-19 cases in the Philippines jumped to 3,660 Monday after the Department of Health reported 414 new cases, 11 deaths, and nine new recoveries.
Read more »