In Asian Equity Markets indices were mostly lower in Wednesday as investors continue to watch for developments around government stimulus as the coronavirus continued spreading. In Japan, the Nikkei 225 slipped 1.34%. South Korea’s Kospi traded 1.53% lower. Stocks in Australia also fell as the S&P/ASX 200 fell 2.91%. In Hong Kong, the Hang Seng index was just above the flatline. Mainland Chinese stocks were mixed, with the Shanghai composite up 0.32% and the Shenzhen component down 0.18%

In Currency Markets the U.S. dollar resumed its descent against the safe-haven Japanese yen and Swiss franc on Wednesday after a rebound the previous day as nervous sentiment over the coronavirus epidemic persisted. Against the yen, the dollar lost 0.6% to 104.98 yen, down almost a full yen from Tuesday’s high. The Swiss franc also gained 0.25% to 0.9369 franc per dollar while the euro stood at $1.1304, up 0.21% so far in Asia.

In Commodities Markets oil prices climbed for a second day on Wednesday as hopes U.S. producers would cut output lent support, but gains were capped by growing doubts about Washington’s stimulus package to fight the coronavirus, which continues to spread globally. Brent crude futures rose $1.26, or 3.4%, to $38.48 a barrel, while U.S. West Texas Intermediate (WTI) crude gained $0.91, or 2.7%, to $35.27 a barrel. They have recouped nearly a half of the Monday’s 25% loss, which was triggered by the clash of oil titans Saudi Arabia and Russia.

In US Equity Markets indices rose nearly 5% on Tuesday, fueled by hopes for stimulus measures. Financials jumped 6.0% after suffering their worst day in more than a decade. United Parcel Service Inc gained 6.5% as Stifel upgraded its shares to “buy,” while Amazon.com Inc  rose 5.1% on Cowen & Co’s price target increase. Shares of Chevron Corp and Marathon Oil Corp rose 5.3% and 21.2%, respectively, after the oil companies and their peers announced cost reduction efforts to combat plunging crude prices.

In Bond Markets U.S. Treasury yields rose from all-time lows on Tuesday as global oil and stock markets rebounded on optimism that governments would take steps to reboot economies impacted by the global spread of coronavirus. The 10-year note yield was last at 0.8046%, more than double Monday’s record low yield of 0.318%. Thirty-year Treasury yields, which fell to a record low of 0.702% on Monday, last traded at 1.3045%.