Markets in the region strengthened on Tuesday as they recovered from steep losses the day before.
Stocks fell sharply in the United States on Monday at the opening of the bell as investors were intimidated by the recurrence of Covid-19 cases in the United States as well as in China. But the market soon recovered. The Federal Reserve’s action helped strengthen sentiment: The Central Bank has finally launched its Main Street Loan Program to help small and medium-sized businesses, and has also committed to buying corporate bonds.
In the oil trade, U.S. oil prices fell 0.5% on Tuesday in Asia to $ 36.95 a barrel. Brent, the global oil benchmark, lost 0.5% to $ 39.53 a barrel. The two contracts agreed more on Monday, both by more than 2%.
Since the data for retail and industrial production in the US should be released on Tuesday. Fed Chairman Jerome Powell will testify in front of Congress this week.
– Anneken Tappe contributed to this report.