By The New York Times
Stocks rise in Asia on policy optimism, Europe set to follow. Markets in Asia-Pacific showed some optimism on Friday after a tumultuous week, as investors digested news of fresh measures by Europe and the United States to shore up economies that have been devastated by the coronavirus.Europe appeared ready to follow, with futures trading indicating a modest gain when markets open later on Friday. Wall Street, however, could be in for more turbulence on Friday.Stocks across the Asia-Pacific region rose in morning trading, with the exception of Japan. The Hang Seng in Hong Kong gained 3 percent, while Seoul’s Kospi was up 3.8 percent. Australia’s ASX 200 was up 1.5 percent. In Taiwan, stocks jumped by 5.5 percent. Tokyo was the region’s only loser, and its Nikkei 225 was trading down 1 percent.In China, markets were more muted. Shenzhen and Shanghai both rose around 0.4 percent.Investors are reacting to news overnight that the European Central Bank would begin a massive bond-buying program to cauterize the economic bleeding across Europe caused by nationwide shutdowns to contain the coronavirus. In the United States, the Federal Reserve announced a plan to support money market funds.
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