Shares rebound on signs of progress in battling virus

Bangkok

Asian shares and U.S. futures rebounded on Monday as investors grasped at threads of hope that the battle against the coronavirus pandemic may be making some progress in some hard-hit areas.

Markets in Tokyo and Sydney gained more than 4% on Monday and Hong Kong climbed 2.3%. New York futures were more than 4% higher, The Associated Press (AP) reported.

The gains followed another Friday session of losses after the U.S. said employers cut 701,000 more jobs than they added last month, the first drop in nearly a decade. Investors fled the market ahead of the weekend.

Oil prices fell back after a meeting between OPEC and Russia reportedly was delayed until April 9.