Asia Stocks Trade Higher as BOJ Expects to Expand Stimulus Aid to Combat COVID-19

Stocks in Asia rebounded from a plummet last Friday as investors expected the Bank of Japan to expand its monetary stimulus to ease corporate funding strains and liquidate government’s spending to combat the coronavirus outbreak.

 

As of 8:53 local time in Thailand (GMT+7), Nikkei rose 1.79%, SSEC gained 0.11%, HSI increased 1.28%, ASX 200 edged 0.20% higher and Kospi advanced 1.17%.

 

Investors were watching how central banks would introduce stimulus plans to aid those affected by the outbreak of coronavirus as the total case nearly reached 3 million globally, while the total fatality already surpassed 200,000.

Thailand had a total of 2,922 cases as of April 26 with 51 fatalities. Meanwhile, 2,594 people out of 2,922 cases already recovered from the disease. Investors were expecting the Thai government to ease the partial lockdown in some areas starting May 1.