Share indexes in Asia rose Tuesday after a recovery overnight on Wall Street - contributed to by the return to the White House of U.S. President Donald Trump after a short stay in hospital as a result of his positive test for the coronavirus.
Trump left the hospital after spending about three days there. He returned to the White House late Monday despite uncertainty over his recovery and risks that he is still infectious.
Shares rose in Tokyo, Hong Kong and Seoul. Overnight, the S&P 500 climbed 1.8%. Treasury yields and oil all rose after Trump and House Speaker Nancy Pelosi agreed about the importance of additional support for the economy.
Trump had been receiving a still-experimental dual-antibody treatment made by Regeneron Pharmaceuticals, and remdesivir, produced by Gilead Sciences. He was aided by a respirator, his doctors said. The news had earlier spooked markets because of doubts the 74-year old president could continue working. However, his team of physicians is optimistic he is well and ready for the return to the Oval Office.
According to Dr. Nahid Bhadelia, a Boston University School of Medicine infectious diseases physician, Trump's dexamethasone shots indicated he has some inflammation that requires the use of the steroidal drug despite the fact that the treatment can also affect the immune system.
Australia's S&P/ASX 200 fell 0.1%. The government there will later Tuesday announce a spending plan aimed at helping business investment and jobs.
Japan's Nikkei 225 index rose 0.5% to 23,425.91 points and the Hang Seng index in Hong Kong added 0.7% to 23,922.38 points. South Korea's Kospi added 0.6% to 2,371.31 points.
Overnight, the S&P 500 rose 60.19 points to 3,408.63 points. The Dow Jones Industrial Average rose 1.7% to 28,148.64 points and the Nasdaq composite rose 2.3% to 11,332.49 points.
The yield on the 10-year Treasury rose to 0.76% from 0.70% late Friday. U.S. crude oil lost 2 cents to $39.20 per barrel in electronic trading on the New York Mercantile Exchange. It rose $2.17 Monday to $39.22 per barrel. Brent gained 3 cents to $41.32 per barrel.
The U.S. dollar weakened to 105.68 yen from 105.73 yen. The euro rose to $1.1791 from $1.1786.
