Asia Stocks Advance as Investors Monitor the Development of the Reopening Economy

Stocks in Asia rose higher in the morning session of May 11, 2020, as investors monitored the reopening economy after a long lockdown to contain the coronavirus outbreak.

 

Japan’s Nikkei jumped 1.55%, China’s SSEC gained 0.49%, Hong Kong’s HSI hiked 1.91%, Australia’s ASX 200 advanced 1.21% and Korea’s Kospi increased 0.41%.

The lockdown is starting to ease cautiously in countries across the globe, while investors also watched closely for the development after the reopening.

South Korea warned of the second wave as the country recorded a one-month high in infection after the reopening. Meanwhile, U.S. Treasury Secretary Mnuchin said Sunday that the unemployment rate may have already reached 25% after the U.S. recorded a jobless claim of 20.5 million in April.