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European Markets Pick Up Baton from Asia as Big Rally Spreads

VOA News

   Tuesday's big rally in Asia carried over into Europe as investors
   cheered new moves by central banks in the United States and Japan to
   help the global economy recover from the coronavirus pandemic.

   The FTSE in London is up 2.5% at the midday trading mark, Paris' CAC-40
   index has risen 2.6%, and Frankfurt's DAX index is soaring above 3%.

   Tokyo's Nikkei index led Asia's big rebound earlier in the day, earning
   1,051 points to finish the trading session 4.8% higher. The S&P/ASX
   index in Sydney was close behind, earning 3.9% at its closing bell.

   Elsewhere in the region, Hong Kong's Hang Seng index was 2.3% higher,
   and Shanghai's Composite index had gained 1.4%. The Sensex in Mumbai
   was up 1.1%, while Taiwan's TSEC was 1.8% higher.

   The rebound was sparked by Monday's announcement by the U.S. Federal
   Reserve that it would begin buying individual corporate bonds as part
   of its efforts to help the overall U.S. economy recover from the
   COVID-19 lockdowns that ground all economic activity to a halt. The
   announcement sparked a late rally on Wall Street, which had lost ground
   over fears of a second wave of coronavirus infections.

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