Stock markets boosted by hopes that virus' worst has passed but oil dives

A currency trader stretches at the foreign exchange dealing room of the KEB Hana Bank headquarters in Seoul on Monday (April 27). Asian stock markets have gained after Japan's central bank promised to buy more govt bonds to support financial markets as investors look to central bankers to shore up the struggling global economy. - AP

HoONG KONG: Equity markets rallied Monday (April 27) as the rate of Covid-19 (coronavirus) deaths dropped in several badly hit countries and leaders stepped up plans to reopen their economies, though oil prices tumbled again with supply glut fears overshadowing output reductions.

Traders were also keeping a keen eye on meetings of key central banks this week, hoping for further financial support to offset the impact of the pandemic, which is expected to send the world into recession.