Hong Kong markets jump despite virus concerns

Hong Kong's benchmark Hang Seng Index jumped Monday morning, dispelling concerns about how US President Donald Trump's coronavirus infection might affect Asian markets. Market analyst Francis Lun said he thought the market overreacted Friday to the news of Trump's positive test results.

"I think the market is relieved that nothing serious is going to happen to Donald Trump, so the world will not fall apart," Lun said.

And the gains in Hong Kong stocks are among old economy stalwarts, Lun points out, saying that this hints at hopes of recovery if the pandemic is under control. Hong Kong authorities have started to relax stringent anti-virus regulations as the third wave of local infections subsided by late September.

Trump's medical team reported that his blood oxygen level had dropped twice in recent days, and that they gave him a steroid typically only recommended for the very sick. They also said his health is improving and that he could be discharged as soon as Monday.

This story has not been edited by www.republicworld.com and is auto-generated from a syndicated feed