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Shares rebound on signs of progress in battling virus

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BANGKOK – Asian shares and U.S. futures rebounded on Monday as investors grasped at threads of hope that the battle against the coronavirus pandemic may be making some progress in some hard-hit areas.

Markets in Tokyo and Sydney gained more than 4% on Monday and Hong Kong climbed 2.3%. New York futures were more than 4% higher.

The gains followed another Friday session of losses after the U.S. said employers cut 701,000 more jobs than they added last month, the first drop in nearly a decade.

Investors fled the market ahead of the weekend. Oil prices fell back after a meeting between OPEC and Russia reportedly was delayed until April 9.

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