Asia Stocks Rebound as ECB Vows to Help Affected Nations Outside Eurozone

Stocks in Asia rebounded in the morning session on Friday after a sudden plummet in previous sessions due to concerns over the global economy that could be worse than expected when the IMF announced a revised down on global GDP to 4.9% contraction.

 

As of 9:35 local time in Thailand (GMT+7), Nikkei rose 1.02%, ASX 200 jumped 1.06%, Kospi gained 0.66%, while HSI slipped 0.45% and SSEC closed on a holiday.

 

Krungsri Securities had a neutral view for today’s session and expected SET to move between 1,315-1,340 points from the positive sentiment in the regional markets after ECB announced a loan to central banks outside the Eurozone to help other countries combating the coronavirus outbreak. Moreover, the U.S. also vowed that it will not enforce another shutdown even if the country is hit by the second wave.