On Monday, Japanese Prime Minister Shinzo Abe lifted the state of emergency for the entire country as the coronavirus outbreak there has declined.
Abe is also looking at a new stimulus package that will work to increase the government’s stimulus package by 200 trillion yen (৯ 1.9 trillion) or about 40% of the annual income of the world’s third-largest economy. The Japanese cabinet is expected to approve the new package on Wednesday.
GI added that the controversial law would protect the conduct of international business based on Hong Kong law.
“Hong Kong’s dust clouds have settled faster than anyone expected. Local risk sentiment is not nearly as frightening,” Stephen Inis, global market strategist at Exiporp, wrote in a note on Tuesday.
There is also a sense of “re-opening optimism” among investors, Ines said. They are criticizing the lockdown in the United States and elsewhere.
Dow futures are up 460 points or about 1.9%. S&P futures are up 1.6% and Nasdaq futures are up about 1.9%.
Meanwhile, oil prices jumped during Asian trade on Tuesday. US crude futures traded at. 34.36 a barrel. Brent crude, a global oil benchmark, rose 1.9% to $ 3.22 a barrel.
CNN’s Laura She and Cowrie Enjozi contributed to this report.