The stock exchange in Japan entered the weekend with a profit on Friday. The stock exchange in South Korea, which was also open, also improved.
Investors responded, among other things, to the new support measures from the Federal Reserve in the United States to help the world’s largest economy through the corona crisis. Negotiations of the OPEC oil cartel and its allies were also monitored.
The leading Nikkei in Tokyo closed 0.9 percent higher at 19,498.50 points. The US central bank umbrella released a new aid package worth $ 2.3 trillion on Thursday. Fed boss Jerome Powell underlined that the Fed could continue to provide support as long as it needs to.
Also, there is finally an end to the price war on the oil markets. Members of OPEC oil cartel and ally Russia have agreed to cut oil production. In May and June, 10 million barrels less per day are produced to support oil prices.
However, a final agreement has not yet been concluded. That is because Mexico does not again want to approve. The country reportedly believes it should limit its production too much. Negotiations will continue on Friday.
The Korean Kospi posted a plus of 1.3 percent in the meantime. In Shanghai, the primary stock market indicator fell on Friday, by a minus of 1 percent.
According to new figures, Chinese inflation fell to its lowest level since October in March. Despite the easing of government restrictions against the new coronavirus, demand for goods remained weak.
The prices that Chinese factories charge for their products continued to fall sharply. The stock exchanges in Hong Kong and Sydney were closed on Friday like many European and American stock exchanges on Good Friday.
