Shares surged today in Asia after China reported economic data that, while bleak, was better than expected. The strong open followed an overnight rally on Wall Street powered by buying of Amazon, health care stocks and other market niches that are thriving in the coronavirus crunch. "The March data add to broader signs that China's economy is past the worst. Indeed, the high frequency indicators we track suggest that, after an initial bounce as containment measures were eased, the recovery in activity has since slowed to a crawl,`` Julian Evans-Pritchard of Capital Economics said in a commentary. Japan's Nikkei 225 index jumped by 2.6 percent, while Australia's S&P ASX 200 added 2.4 percent to 5,547.80.

Source: The Standard April 17, 2020 03:45 UTC