The Shanghai Stock Exchange Composite Index gained 1.99% on Thursday, reaching 3,071.68 points, according to Bloomberg data. This marks the index’s highest level since the start of February, when it plummeted to less than 2,800 points. The Shenzhen Component Index also gained around 1.9% over the course of the day.
Meanwhile, stocks outside mainland China have also showed a positive dynamic. In the final hour of trading, the Hong Kong Stock Exchange’s Hang Seng Index grew by over two percent, to 26,768.
In Japan, the Nikkei 225 Index closed at 21,329, a 1.09% rise from the previous day.
This came after the Dow Jones Industrial Average managed to gain nearly 1,200 points on Wednesday. Earlier, the Federal Reserve cut US interest rates by half a point amid hysteria around the Covid-19 outbreak.
The coronavirus, which initially originated in the Chinese city of Wuhan at the end of 2019, has been closely monitored by investors. About 97,000 cases of the virus have been confirmed around the world so far, while more than half of the infected people have already recovered from the illness.