Asian shares rose Wednesday after Wall Street extended its gains for a third straight day, driven by optimism over economies reopening from shutdowns to stem the coronavirus pandemic.
Japan's benchmark Nikkei 225 gained 1.3% to finish at 22,613.76. Australia's S&P/ASX 200 rose 1.8% to 5,941.60. South Korea's Kospi surged 2.7% to 2,143.45. Hong Kong's Hang Seng was up 1.3% at 24,315.99, while the Shanghai Composite added 0.2% to 2,926.59.
So far, Wall Street's momentum has not been derailed by the wave of daily unrest across the U.S. that began last week in Minneapolis as a protest over police brutality. Cities across the country have been rocked by violence and destruction for seven days in a row, drawing threats from the White House to send troops in to put down the unrest.
Smaller company stocks had some of the biggest gains. The Russell 2000 index picked up 0.9%, to 1,418.21. Investors are hoping that the worst of the recession has already passed, or will soon, as governments around the country and around the world slowly lift the restrictions that left broad swaths of the U.S. economy at a standstill beginning in March.
Bond yields were mostly higher. The yield on the 10-year Treasury rose to 0.71% from 0.68% late Tuesday.
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