Asia Stocks Make a High Jump after a Report of Effective Drug for Treating Coronavirus!

Stocks in Asia traded higher in the morning session on Friday despite the official data indicating a contraction of 6.8% in China’s 1Q GDP after a report said a Gilead Sciences drug was showing effectiveness in treating the coronavirus.

 

Nikkei soared 2.66%, SSEC increased 0.85%, HSI rose 2.25%, ASX 200 jumped 2.46% and Kospi hiked 3.34%.

Meanwhile, Dow Jones Futures also pointed to a gain after jumping more than 860 points or 3.69% to 24,271.00 points. S&P 500 Futures gained 3.34% and Nasdaq Futures rose 2.36%.

Stocks were traded on a positive sentiment after a report said a Gilead Sciences drug was showing effectiveness in treating the coronavirus. STAT news reported that a hospital in Chicago, USA, treating coronavirus patients with Remdesivir in a trial were recovering rapidly from severe symptoms of coronavirus.