Asian stocks rally As Oil Prices Rebound – Markets – Thailand Business News

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Oil prices rallied Thursday, helping boost equity markets, on fresh tensions between the US and Iran, but investors continued to fret over the uncertain economic outlook despite the coronavirus pandemic showing signs of slowing.

With devastation wrought on economies around the world, some governments are turning their attention to easing tough restrictions that have been imposed on billions of people over the past weeks.

But observers say the route out of the crisis remains uncertain, while the head of the World Health Organization warned the end was still a long way off.

Asian markets enjoyed a welcome advance

Tokyo, Mumbai and Jakarta were all more than one percent higher, while Seoul added one percent and Hong Kong gained 0.5 percent.

Taipei, Singapore, Manila, Bangkok and Wellington were also higher, though Shanghai and Sydney both slipped slightly. London, Paris and Frankfurt were all up in early trade.

“Make no mistake: we have a long way to go. This virus will be with us for a long time,” Tedros Adhanom Ghebreyesus told a virtual press conference.

Wall Street jumped Wednesday, tracking a surge in oil prices that saw WTI for…

Asian stocks rally As Oil Prices Rebound – Markets