Summer weather lures much of the world to emerge from coronavirus lockdowns as centres of outbreak gradually lift restrictions
A man walks past an electronic display showing Asian markets indices outside a brokerage in Tokyo last week. Picture: REUTERS
“The economies of Europe and the US likely bottomed out in April and are slowly starting to come back to life,” wrote Barclays economist Christian Keller in a note. Late on Sunday, Powell outlined the likely need for three to six more months of government financial help for firms and families.Data out on Friday showed retail sales and industrial production plunged in April, putting the US economy on track for its deepest contraction since the Great Depression.
MSCI’s broadest index of Asia-Pacific shares outside Japan still edged up 0.4%. Japan’s Nikkei rose 0.6% and Chinese blue chips 0.3%. The dollar has also been largely range-bound, with its safe-haven appeal keeping it well supported overall. Against a basket of currencies, it was last at 100.380 having drifted 0.7% higher last week.
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