STI recoups losses as virus fears recede

THE region's equity markets continued to bounce back from their early-week losses as investors focused on picking up on Wall Street's lead, and fears about the spread of the novel coronavirus (now named Covid-19) faded.

"Asian equities traded bid (on Wednesday) after a chorus of 'Keep calm, buy stocks' was heard echoing across dealing rooms in Asia after China noted that the number of fresh cases and deaths related to the virus had declined," remarked AxiCorp chief market strategist Stephen Innes.

Investor sentiment was also lifted by hopes of further stimulus, CMC Markets' analyst Margaret Yang noted.