Chinese Stocks Lift Asia Markets with a 5% Surge over Fast Eco Recovery after Crisis

Stocks in Asia mostly traded higher on Monday as positive sentimemt over the Chinese economic data drives the market.

As of 13:15 local time in Thailand, Nikkei closed 1.81% higher, SSEC jumped 5.44%, HSI soared 3.42%, Kospi gained 1.58%, while ASX200 closed 0.71% lower.

Last week, China reported series of higer-than-expected economic data, which lifted the market in the previous trading week. The fast recovery in China gave investors positive sentiment over the possibility of recovering once the coronavirus outbreak eased, even with reports of the second wave in Beijing, in which the authority claimed to have it under control.

Meanwhile, Dow Jones Futures rose 1.39% despite a record high of rising daily cases in Florida and Texas. S&P 500 Futures gained 1.15% and Nasdaq Futures increased 1.24%. The U.S. market is tryimg to build its gain after a strong rally last week as Dow Jones gained 3.3%.