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Asian shares tick up, aim for second week of gains amid virus scare


Added 02-13-20 11:03:01pm EST - “Asian shares edged up on Friday, on course to post the second straight week of g...” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “Asian shares tick up, aim for second week of gains amid virus scare”. Below is an excerpt from the article.

TOKYO (Reuters) - Asian shares edged up on Friday, on course to post the second straight week of gains, helped by hopes governments will make provisions to soften the impact on their economies from the coronavirus epidemic.

MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS ticked up 0.3%, led by gains in Hong Kong .MIHK00000PUS and South Korea .MIKR00000PUS. On the week, the pan-regional index was up 1.94%.

“China is already easing its monetary policy and providing more liquidity while more stimulus is likely. Factories are starting to reopen albeit with some delays,” said Yukino Yamada, senior strategist at Daiwa Securities.

Japan's Nikkei .N225 dropped 0.55%, not helped by the news of first coronavirus death and signs of a potential rise in domestic human-to-human infections in the country.

On Wall Street on Thursday, the S&P 500 .SPX lost 0.16% but its futures ESc1 gained 0.23% in subsequent Asian trade to hit record levels.

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