Asia shares rise on hopes of rapid economic recovery
Deccan ChronicleWASHINGTON: Asian shares were poised to open higher on Thursday after global equities and crude prices rallied overnight on hopes of a rapid economic recovery and government support. Global equities have received a boost this week as governments around the world gradually loosened their coronavirus lockdown restrictions, raising investor hopes the economic impact of the pandemic would be short-lived. MSCI’s gauge of stocks across the globe broke out of a three-week trading range overnight, and oil prices rallied as U.S. data showed declining inventories and firming demand. Minutes from the U.S. Federal Reserve’s April meeting released on Wednesday showed policymakers affirmed a pledge to keep interest rates near zero until they are confident the economy is on track to recovery.