Australian shares rose on Tuesday,
taking cues from U.S. and European equities overnight, as
reports of slowing fatalities from the coronavirus outbreak
raised optimism that the fight against the disease was reaching
an inflection point.
Hedge fund managers sensed oil
prices were nearing a turning point last week, and for the first
time in more than two months started to add long positions in
anticipation prices would bounce from an unsustainable low.
Jordan's central bank governor,
Ziad Fariz, said on Monday it was too early to predict the
extent of the negative impact on the cash-strapped economy from
a nearly month-long lockdown to stem the coronavirus outbreak.