Asia Stocks Edge Higher, Shaking Off a Single-Day High of Coronavirus Cases Stateside

Asia Stocks Edge Higher, Shaking Off a Single-Day High of Coronavirus Cases Stateside as Hopes on Gilead's Remdesivir Rise.

Stocks in Asia traded higher on Monday morning after negative sessions last Friday while shrugging off the rising cases of coronavirus stateside.

 

As of 9:13 local time in Thailand (GMT+7), Nikkei jumped 1.57%, SSEC gained 0.04%, HSI increased 0.27%, ASX 200 hiked 0.84% and Kospi advanced 1.23%.

Last Friday, Dow Jones closed at 26,075.30 points, increased 369.21 points or 1.44%. S&P 500 increased 1.05% and Nasdaq rose 0.66%.

 

Yesterday, Florida recorded a new daily high of coronavirus cases with more than 15,000 infections for the state, the highest daily cases in one state since the outbreak started. Meanwhile, the World Health Organization (WHO) reported a record increase in global infection on Sunday by 230,370 cases.

Krungsri Securities had a positive view for today’s session in SET Index, expecting a rebound to 1,360-1,365 points before slowing the buying pressure down. The increase would be due to the result of Gilead’s remdesivir, which showed that the drug could reduce the fatality rates.