18:33 GMT30 September 2020
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    At the same time, Japan reported that its GDP lost 3.4 percent in the first quarter of 2020, compared to that of the previous year, amid the novel coronavirus (COVID-19) pandemic.

    Stocks in the Asia-Pacific region did not see significant changes in Monday morning trade, according to CNBC News.

    Japan's Nikkei 225 was up 0.13 percent, while the Topix index added 0.18 percent. South Korea's Kospi, however, declined fractionally.

    In Australia, the S&P/ASX 200 surged 1.1 percent in early trade.

    Overall in the region, the MSCI Asia ex-Japan index was 0.08 percent higher.

    Meanwhile, in the United States, futures contracts tied to the main stock indexes jumped in evening trade, implying gains at Monday's open. The Dow Jones Industrial Average gained 214 points, while the S&P 500 and Nasdaq futures also pointed to further gains in the morning.

    Investors were following US Central Bank chief Jerome Powell's comments on Sunday, who said that full economic recovery might only be possible after a coronavirus vaccine arrives.

    "Assuming there's not a second wave of the coronavirus, I think you’ll see the economy recover steadily through the second half of the year", Powell told CBS's "60 Minutes", but "for the economy to fully recover ... that may have to await the arrival of a vaccine".
    Tags:
    finance, Australia, Jerome Powell, South Korea, Japan, United States
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