Market shares were on the upswing in Asia on Thursday as investors once again expressed hope that the novel coronavirus pandemic was nearing its peak.
Australia’s S&P/ASX index gained nearly 3.5 percent at the end of its trading session, with Hong Kong, Seoul, Shanghai and Mumbai also posting positive gains.
Japan’s Nikkei index lost a fraction of 1 percent as the country faces an increasing number of confirmed COVID-19 infections.
The rising numbers in Asia mirrored Wednesday’s closing numbers on Wall Street, with the Dow Jones and the S&P 500 all gaining 3.4 percent, while the Nasdaq finished 2.6 percent higher.
Oil markets also improved Thursday, with U.S. crude oil gaining 3 percent to finish over $25 per barrel, while Brent crude oil, the international standard, rose nearly 2 percent, to settle at over $33 per barrel. Investors are hopeful that Thursday’s meeting between OPEC members and Russia will lead to a deal to curb production, which has created a glut of supplies as demand has plunged due to the pandemic.