TOKYO- Stock markets rose on Monday on hopes that President Donald Trump could be discharged from hospital later in the day, easing some of the political uncertainty that shook global bourses in the previous session.
Trump, 74, was flown to hospital for treatment for the coronavirus on Friday, but his doctors say he has responded well and could return to the White House on Monday.
That helped US S&P 500 e-mini futures rise 0.82 percent in Asian trading, while Nasdaq futures gained 1.11 percent.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.63 percent.
Australian stocks jumped 2.37 percent for the biggest daily gain in almost two weeks. Japan’s Nikkei rose 1.39 percent. China’s financial markets are closed for a public holiday.
“Equities and other risk-on traders should be well supported by easing concerns about Trump’s health,” said Junichi Ishikawa, senior currency strategist at IG Securities in Tokyo.
“For the dollar, the impact is not quite as clear cut. It should fall against most currencies due to an increase in risk appetite, but the yen is also weak, and that’s the one currency the dollar can rise against.”
The dollar edged higher against the yen but fell slightly against the Swiss franc as traders jockeyed for position ahead of what could be a volatile day in global markets.
Treasury yields rose slightly on reduced demand for the safety of holding government debt.
Doctors treating Trump say they are pleased with his progress. Relief about his health could fuel a rally in equities and other risky assets as investors prepare for the run-up to next month’s US presidential election.