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Asian stock markets rally on hopes of global recovery

Asian equity markets rallied on May 11 as traders looked past a staggering jump in US job losses. There was also a focus on governments easing COVID-19 lockdowns. Data showing declining death rates in some of the worst-hit countries also added to the positive sentiment. In Japan, stocks closed at a two-month high, with the benchmark Nikkei gaining 1.05%. However, South Korea’s KOSPI closed 0.54% in the red after customs data showed export volumes shrank more than 46% on-year in the first 10 days of May.

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