Asia Stocks Make a Huge Rebound in Response to Fed’s Stimulus Measures!

Stocks in Asia roared in the morning session of March 24, 2020, after the Fed injected more stimulus measures to fight impact from coronavirus

 

As of 9:15 (GMT +7) local time in Thailand, Nikkei rose 6.46%, SSEC gained 2.21%, HSI jumped 4.48%, ASX 200 hiked 3.82% and Kospi soared 6.23%.

Yesterday, SET Index closed at 1,024.46 points, declined 102.78 points or 9.12% with a trading value of 59.6 billion baht.

 

Over the night, the Federal Reserve announced that it would launch an asset purchasing program “in the amounts needed to support smooth market functioning and effective transmission of monetary policy to broader financial conditions and the economy.”

The program would allow the Fed to expand its balance sheet as necessary, rather than a limit amount.

However, the New York Stock Market fell in the previous session after the U.S. lawmakers failed to agree on a fiscal stimulus to support the economic blow from the coronavirus. As lawmakers are discussing the package, investors’ sentiment keeps going down on the forecast that the longer they wait, the greater the damage to the economy.