BEIJING – Asian stock markets gained Wednesday after France and Spain joined governments that plan to ease anti-virus controls and allow businesses to reopen.
Benchmarks in Shanghai, Hong Kong, Sydney and Southeast Asia advanced. Japanese markets were closed for a holiday. Wall Street retreated overnight, hurt by declines in health care and tech stocks that have been among the winners during the coronavirus pandemic.
The French and Spanish governments announced plans Tuesday to allow restaurants and other businesses to reopen gradually. They followed Italy, which announced similar plans on Sunday. “Reopening hopes continue to characterize the market despite the slight pullback for Wall Street,” Jingyi Pan of IG said in a report.