Asian stocks recorded a well-ended session on Friday. The upbeat performance was mainly from President Donald Trump s decision of reopening the U.S. economy, completely supporting the frail gross domestic product of China.
MSCI s broadest index of Asia-Pacific shares outside Japan advanced with a 2.6% gain. This followed after the index hit a five-week high record. China shares (CSI300) hiked 1.8% as GDP figures boosted expectations that more stimulus will be implemented.
S P 500 E-Mini futures increased 3.38% while Australian shares soared up to 2.62%.
The virus pandemic and lockdown restrictions posed a sharp downturn as figures from China indicated that the world s second-biggest economy diminished for the first time since 1992. The gross domestic product reversed by up to 6.8% in the quarter year-on-year. It placed above expectations but still way lower than the initial record of 9.8% from the previous quarter.
https://www.umarkets.com/en/news/asian-shares-soar-as-plans-to-re-open-us-economy-aid-weak-china-gdp