TOKYO: Asian stock markets rallied for a second day on Tuesday, and riskier currencies rose, buoyed by tentative signs the coronavirus crisis may be leveling off in New York and receding in Europe.
Gains lacked Monday’s momentum, but were broad, even though global coronavirus cases kept rising and an economic crash on a scale not seen for generations looms large.
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Japan’s Nikkei rose 2% in Asian Market and has erased most of last week’s losses after Prime Minister Shinzo Abe promised a massive $991 billion economic stimulus package – equal to 20% of GDP.
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