Global Stocks Show Sign of Recovery with Limited Upsides after Series of Stimulus Plans

Stocks in Asia showed signs of recovery in the morning session after European stocks and Wall Street edged higher last night.

 

As of 9:22 (GMT +7) local time in Bangkok on March 20, 2020, SSEC rose 0.94%, HSI hiked 3.32%, ASX 200 jumped 4.24% and Kospi gained 3.42% while Nikkei closed on public holiday.

Over the night, Dow Jones rose 188.27 points or 0.95% to close at 20,087.19 points after a declining lower 20,000 in its three-year low. S&P 500 gained 0.47% and Nasdaq jumped 2.30%.

 

Global stocks started to recover after countries began to announce stimulus plans to fight the coronavirus outbreak and support those affected by the virus. The U.S.’s Fed announced a dollar swap lines with other central banks to increase liquidity while ECB cut its interest rate from 0.15% to 0.10% and IMF also had a stimulus package for loans as well.

However, analysts and economists stated that the rebound would be limited until the situation of virus outbreak got better or a cure was introduced.