Asian shares rise following surge in U.S. on stimulus measures
as governments and central banks took more aggressive measures to fight the virus outbreak and its effects on the economy.
The rally’s momentum accelerated around midday after House and Senate leadership reached a deal on a bipartisan $8.3-billion bill to battle the coronavirus outbreak. The measure’s funds would go toward research into a vaccine, improved tests and drugs to treat infected people. Some measures of fear in the market eased. Treasury yields rose but were still near record lows in a sign that the bond market remains concerned about the economic pain possible from the fast-spreading virus. Companies around the world are already saying the virus is sapping earnings due to supply-chain disruptions and weaker sales, with General Electric becoming the latest to warn its investors.
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