Asian equities extends gains as COVID-19 cases slow down

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Asian equity markets extended gains on Tuesday after the United States, Italy, and Spain reported a steady decline in COVID-19 cases over the weekend.

South Korea’s KOSPI inched up by 0.95% at 10:23 PM ET (3:23 AM GMT) as Samsung Electronics exceeded expectations after announcing that their first-quarter profits reached near $5.2 billion.

Japan’s Nikkei 225 gained a moderate 0.93% after Prime Minister Abe rolled out a ¥39 trillion ($357.55 billion) stimulus package before declaring a state of emergency.

Hong Kong’s Hang Seng Index gained by 0.26%. Meanwhile, China’s Shanghai Composite and the Shenzhen Component gained 1.53% and 2.32% respectively.  

Australia’s ASX 200 dipped by 0.5%, losing gains made earlier. The Reserve Bank of Australia is due to announce an interest rate resolution later in the day.  

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