Asian equities mostly rise as dealers eye slowing infection rate

Asian markets were mostly in positive territory Thursday following another strong day for Wall Street as traders buy into optimism that the coronavirus crisis could be nearing its apex.

Despite news that thousands more people had died of COVID-19 around the world, the slowing rate of new infections is providing some much-needed buoyancy to equities as investors eye an easing of lockdown restrictions that have strangled the global economy.

Meanwhile, lawmakers in Washington are discussing further possible stimulus measures of around $500 billion for struggling US firms, with Republicans and Democrats looking to work together in a rare sign of unity.

While nearly 2,000 Americans died of the disease Wednesday, Donald Trump adviser Anthony Fauci said there could be a turnaround in the battle as soon as next week.

Citing a slowdown in hospitalisations owing to stay-at-home orders, Andrew Cuomo, governor of US hotspot New York state, told reporters: "We are flattening the curve."

That optimism was shared by Trump, who said the US was "hopefully heading towards a final stretch, the light at the end of the tunnel". Vice President Mike Pence added: "We're beginning to see glimmers of hope."

The upbeat tone sent all three main indexes on Wall Street surging and the gains extended into Asia again.

Hong Kong, Seoul and Singapore added more than one percent and Sydney almost two percent. Shanghai gained 0.5 percent, Taipei added 0.2 percent but there were small losses in Tokyo and Jakarta.