Global stocks gain on hopes of coronavirus pandemic peaking

• Shares in China, the country where the coronavirus originated back in December increased 0.42 percent.

Hopes of more government stimulus packages and coronavirus nearing its peak strengthened global stock markets on Thursday.

Shares in China, the country where the coronavirus originated back in December increased 0.42 percent. Meanwhile, Australian shares rose 2.54pc.

The worldwide number of fatalities from the novel coronavirus pandemic rose to 86,289 as of till Wednesday, with more than 1,469,920 declared cases have been registered in 192 countries and territories.

MSCI’s Asia index excluding Japan was up by 1.47pc, while Japan’s Nikkei index closed down 0.04pc.

In Southeast Asia, the Singapore benchmark ended trading 1.3pc higher, lifted by gains in heavyweight financial institutions. The Thailand index was up 0.4pc, with gains in financials as well.

The Malaysian stocks gained 0.6pc; Indonesian stocks were down 0.1pc while Philippine markets were closed for a holiday.

The Indian indices rose over 4 percent higher on Thursday on hopes that the coronavirus pandemic was nearing its peak globally.

In Europe, the pan-European STOXX 600 index climbed 1.5pc and was on course to end a holiday-shortened week more than 5pc higher, after data showed France’s coronavirus hospital deaths slowed. Meanwhile, US stock index futures dipped on as investors were concerned over another mammoth weekly jobless claims number.