Asian stock markets mostly trade higher

The US Federal Reserve on Thursday placed new restrictions on the banking industry after its annual stress test found that several banks could get close to minimum capital levels in scenarios related to the coronavirus pandemic.

Jun 26, 2020 10:06 IST India Infoline News Service

Asian stock markets gained on Friday despite rising new coronavirus infections. The Nikkei 225 rose 0.91%, the Topix index added 0.73%, South Korea’s Kospi also gained 0.43%, the S&P/ASX 200 up 0.63% while, Hong Kong’s Hang Seng index slipped 0.39%. The stock markets in China are closed on Friday for a holiday.

The US Federal Reserve on Thursday placed new restrictions on the banking industry after its annual stress test found that several banks could get close to minimum capital levels in scenarios related to the coronavirus pandemic.

Meanwhile, oil prices also see an uptick as markets get back into risk-on trade with lower bond yields augering well for a rise in risky assets. The dollar held steady against a basket of currencies and gold remains on track for a third weekly gain.

Overnight on Wall Street, the Dow Jones Industrial Average closed 299.66 points higher, or 1.2%, at 25,745.60, the S&P 500 finished it's trading day 1.1% higher at 3,083.76 and the Nasdaq Composite also advanced 1.1% to close at 10,017. 

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