Hong Kong markets advance over virus relief bill

Shares advanced on Friday in Asia after Wall Street logged a third straight day of gains with the approaching congressional approval of a massive coronavirus relief bill.

Hong Kong's Hang Seng advanced 0.8% to 23,528.94.

Analysts said the market shot higher Thursday because the bad news on unemployment was expected.

The gains earlier this week came as Capitol Hill and the Federal Reserve promised an astonishing amount of aid for the economy and markets, hoping to support them as the outbreak causes more businesses to shut down by the day.

"Asia is trending rapidly more stable, but we noticed that the turnover on the Shanghai and Shenzhen market shrinking recently," said Louis Wong, a Hong Kong-based market analyst.