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Asian Stocks Advance Amid Coronavirus Alarm

Asian stocks crept higher on Friday, on course to post the second consecutive seven day stretch of increases, helped by trusts governments will make arrangements to mollify the effect on their economies from the coronavirus pandemic.

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European stocks are relied upon to ascend, with pan-European Euro Stoxx 50 futures STXEc1 up 0.21 percent, German DAX futures FDXc1 gaining 0.3 percent and FTSE futures FFIc1 ticking up 0.21 percent.

MSCI’s broadest equity indicator of Asia-Pacific stocks outside Japan added 0.25 percent on Friday for week by week addition of 1.77 percent.

China’s blue-chip CSI300 stocks .CSI300 gained 0.69 percent, having recuperated an incredible 95 percent of their misfortunes made after the virus outbreak.

The equity indicator of Chinext tech stocks .CHINEXT advanced by 0.8 percent to hit a two-year intraday peak, driven by gains in some biotech names.

Japan’s Nikkei tumbled 0.6 percent. Hong Kong’s Hang Seng increased 0.6 percent, while the Shanghai Composite likewise gained 0.6 percent. Australia’s S&P/ASX 200 progressed 0.3 percent and South Korea’s Kospi added 0.5 percent. Benchmark equity indicators in Taiwan, Singapore, and Indonesia were flat to higher.

Source: Reuters


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