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.