US futures and Asian stocks rose for the most part Tuesday as central banks take action to protect the global economy from the impact of the coronavirus epidemic.
Mainland Chinese stocks rose during the day, with the Shenzhen component increasing 0.9% to 11,484, while the Shenzhen composite gained 1.031% to about 1,889. The Shanghai composite rose from 0.74% to approximately 2,993.
The Hong Kong Hang Seng Index was about 0.3% higher than its last trading hour. In South Korea, the Kospi gained 0.58% to close at 2,014.
Elsewhere, however, the Nikkei 225 in Japan slipped 1.22% to close at 21,083 while the Topix fell 1.36% to end its trading day at 1,505.
The Australian S & P / ASX 200 closed up 0.69% to 6,436. The Reserve Bank of Australia on Tuesday announced a rate cut of 25 basis points to 0.5%, a new record. As a result of this decision, the Australian dollar surged to $ 0.6549 after experiencing a previous low of $ 0.6507.
“The overseas coronavirus epidemic is currently having a significant effect on the Australian economy, particularly in the education and travel sectors,” RBA Governor Philip Lowe said in a statement.
In Europe, shares traded higher Tuesday morning as investors continue to hope that global central banks will adopt monetary policy measures to fight the coronavirus epidemic.
The pan-European Stoxx 600 jumped 2.8%, with basic resources climbing 3.4% to lead to gains, with all sectors and the main exchanges trading in positive territory.
In Germany, the DAX increased by 2.78%, while the French CAC 40 increased by 2.27%. In London, the FTSE 100 advanced 2.24%, with British Airways owner IAG who, along with other airlines and travel, was hit hard by the virus, up 4.02% .
The recovery comes before a conference call by finance ministers and G7 central bankers later today that is expected to tackle the coronavirus epidemic.
Among individual stocks, Qiagen stocks jumped 19% after announcing that Thermo Fisher Scientific had launched a $ 12 billion bid for the German genetic testing company.
The British generator supplier Aggreko jumped 7.1% at the start of the session after posting promising results for the year.
Meanwhile, in the United States, stock index futures were higher on Tuesday morning as investors sought to assess the potential economic fallout from the rapid spread of the coronavirus.
At 5:15 am ET, the Dow Jones industry average indicated a positive opening of more than 50 points. The futures on the S&P 500 and the Nasdaq 100 were both slightly higher.