D05.SI - DBS Group Holdings Ltd

SES - SES Delayed Price. Currency in SGD
21.57
+0.29 (+1.36%)
At close: 5:10PM SGT
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Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
    9M+
Previous Close21.28
Open21.57
Bid21.56 x 0
Ask21.57 x 0
Day's Range21.39 - 21.65
52 Week Range16.65 - 27.04
Volume3,516,800
Avg. Volume6,519,736
Market Cap54.487B
Beta (5Y Monthly)1.17
PE Ratio (TTM)9.48
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & Yield1.23 (5.78%)
Ex-Dividend DateMay 12, 2020
1y Target EstN/A
  • ‘FOMO’ Is in Early Stages With Plenty of Cash for Dips, DBS Says
    Bloomberg

    ‘FOMO’ Is in Early Stages With Plenty of Cash for Dips, DBS Says

    (Bloomberg) -- The fear of missing out and the lack of appealing alternatives will continue to boost stocks, according to DBS Group Ltd.“‘FOMO’ is in its early innings” with lots of cash on the sidelines that could eventually find its way into equities, Chief Investment Officer Hou Wey Fook said in a webinar Monday. “There is capacity to buy whenever there are corrections in the equity markets.”Stocks have emerged as the TINA (there is no alternative) play because of the low or zero returns offered by bonds and cash, Hou said. Also, retail investors have become “a force to contend with” as they’re more knowledgeable and are driven by higher liquidity, high savings rates, and zero commissions at many brokerages.DBS’s remarks come as the MSCI all-country stock index sits a full 34% above its March 23 closing low when uncertainty about the impact of Covid-19 was near its peak. The gauge is still down 8% from where it started the year, but the rebound has been fast, thanks to the stimulus from central banks and governments globally.DBS continues to recommend a “barbell” strategy, with assets placed to benefit from divergent market outcomes, and maintains a preference for sectors like e-sports that can benefit from Millennial and Gen-Z wealth, and from pandemic-related changes in behavior.Other observations from DBS:Technology-company earnings are sustainable as the world becomes more digitalGold is a good risk diversifier, and a proprietary DBS model points to more upside Asia high-yield credit offers value as it’s pricing in a 9.2% default rate, well above forecasts.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • DBS CEO Piyush Gupta warns of correction as financial markets disconnect from real economy and IMF prepares to downgrade views
    South China Morning Post

    DBS CEO Piyush Gupta warns of correction as financial markets disconnect from real economy and IMF prepares to downgrade views

    A "liquidity-driven boom" is creating a dislocation between the real economy and the financial markets and a correction is likely "somewhere along the line," according to Piyush Gupta, the chief executive of DBS Group Holdings of Singapore.Speaking at the Bloomberg Invest Global virtual conference on Tuesday, the head of Southeast Asia's biggest banking group said the amount of stress on the real economy will be "huge" after months of lockdowns from New York to Singapore because of the coronavirus pandemic.The viral outbreak last quarter caused a slump in economies from the US to China and Europe "unlike anything the world has seen before," according to the IMF, while stock-market losses have evoked some parallels to the Great Depression era. The threat of a second wave of infections in recent weeks are threatening an early rebound, putting policymakers on notice for more liquidity stimulus."Everything suggests the recovery is going to be long and drawn out, including in China," Gupta said. "I don't think this V-shaped recovery is going to persist. China needs demand from the rest of the world as well."Piyush Gupta, CEO of DBS Group Holdings of Singapore. Photo: Reuters alt=Piyush Gupta, CEO of DBS Group Holdings of Singapore. Photo: ReutersThe global economy is in for an extended period of slow growth, he said, making it hard to justify strong corporate earnings. Without that backing, it is equally hard to justify that markets will rise forever, he added."It is my belief the market has gotten ahead of where the economy will be in six months. So, we are ripe for some consolidation," Andrew Slimmon, Head of Applied Equity Advisors Team at Morgan Stanley Investment Management, said in a report on June 22. The current disconnect, however, should become "less acute" as the economy reopens, he wrote.Duncan Lamont, Head of Research and Analytics at Schroder, said "false dawns" are an unfortunately common occurrence in financial-market history, according to a research report published this week."We've seen some stock markets stage remarkable comebacks since the precipitous falls of March," he said. "This doesn't mean we're out of the woods yet though." IMF says coronavirus 'Great Lockdown' recession would be steepest in a centuryThe International Monetary Fund (IMF) said in April that the global economy was projected to contract sharply this year, at a pace much worse than the global financial crisis in 2008. The outlook has not improved dramatically as countries and cities that have opened up are experiencing second and third waves of the coronavirus.Gita Gopinath, the IMF's chief economist, said in a June 16 blog post earlier this month that the IMF's upcoming World Economic Outlook Update is "likely to show negative growth rates even worse than previously estimated". The update is set to be unveiled on Wednesday.Speaking on the same panel at Tuesday's Bloomberg conference, Filippo Gori, the Asia-Pacific CEO of JPMorgan Chase, said a lot of emotions are "running wild" among investors right now, particularly as they react to geopolitical headlines and government stimulus efforts." Donald J. Trump (@realDonaldTrump) June 23, 2020"My personal view is governments are trying to help the economies get back on their feet. They've done well in doing it exceptionally fast," he said. "It is a long process. I don't think we have yet seen the end of this crisis."Markets in Hong Kong and other parts of Asia swung wildly on Tuesday morning as White House adviser Peter Navarro told Fox News that a Phase 1 trade deal between the US and China was "over." He later said his remarks were taken "wildly out of context."President Donald Trump later tweeted the deal was "fully intact" as markets in Asia reacted to confusion over Navarro's comments.Separate, Gori said JPMorgan's strategy in China had not changed in the face of rising US-China tensions, which is to be present for both the international and Chinese clients, especially when it comes to cross-border situations."In the last few years, the flows both inbound and outbound that we have seen coming from China have been particularly remarkable," he added. "Our strategy, for the time being, remains the same, which is to keep on investing in the country and helping our customers and clients in what are their business needs."JPMorgan has had a presence in the country since 1921 and is stepping up its business in the mainland.It received approval last week to operate the first fully foreign-woned futures business in China, its asset-management arm agreed in April to buy out its joint venture partner in its mainland mutual fund business and received the go-ahead in December to start operating a majority-owned securities joint venture.This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2020 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2020. South China Morning Post Publishers Ltd. All rights reserved.

  • Thomson Reuters StreetEvents

    Edited Transcript of D05.SI earnings conference call or presentation 30-Apr-20 3:15am GMT

    Q1 2020 DBS Group Holdings Ltd Earnings Call

  • Thomson Reuters StreetEvents

    Edited Transcript of D05.SI earnings conference call or presentation 30-Apr-20 2:30am GMT

    Q1 2020 DBS Group Holdings Ltd Earnings Media Briefing

  • HSBC, Citi speed up digital push to ward off Asian upstarts
    South China Morning Post

    HSBC, Citi speed up digital push to ward off Asian upstarts

    Banks in Asia's financial hubs, such as HSBC Holdings and Citigroup, are finding that the disruption from the coronavirus outbreak is helping them push back on a threat from a new breed of virtual upstarts.With branches shut, customers social distancing and fearful of tainted cash, the banking giants are seeing a surge in demand for digital services for everything from wealth management to insurance. Now they are rolling out new video services and fresh mobile features for retail and affluent clients, speeding up a transformation to cement customer loyalty and reduce costs, according to consultants and bankers."Most banks are using this as an opportunity to sharpen their strategy," said Fergus Gordon, growth markets banking industry lead at Accenture. "There will be a longer-term impact on their balance sheets."Pedestrians walk as the HSBC Holdings headquarters building, centre, stands illuminated in Hong Kong's Central district on April 27. HSBC's share of retail transactions in the city conducted digitally hit 94 per cent in March. Photo: Bloomberg alt=Pedestrians walk as the HSBC Holdings headquarters building, centre, stands illuminated in Hong Kong's Central district on April 27. HSBC's share of retail transactions in the city conducted digitally hit 94 per cent in March. Photo: BloombergFor HSBC, which gets about a third of its revenue in Hong Kong, the stakes are high. The city is opening the door to eight new digital-only lenders with powerful backers such as Alibaba Group Holding, the parent company of the South China Morning Post.The start-ups could capture as much as US$15 billion, or 30 per cent, of the city's banking revenue, Goldman Sachs estimated in 2018.At HSBC, the share of retail transactions in Hong Kong conducted digitally hit 94 per cent in March. Active customers on its mobile app jumped almost 40 per cent from a year earlier, to 1.12 million.Citigroup's digital wealth management transactions, including stock and foreign exchange, rose 37 per cent in the first two months of the year in Hong Kong. Overall in Asia, its digital brokerage and mutual fund transactions jumped more than 70 per cent in March from January."We do anticipate that Covid will lead to an acceleration in customer adoption of digital channels, which will continue," said Greg Hingston, HSBC head of wealth and personal banking for Asia-Pacific.During the crisis, Citigroup has added features to its mobile app such as a "Help" function and is working on enabling two-way messaging."Our view is customers will continue to embrace digital once the pandemic is behind us after having experienced first-hand the added convenience and possibilities it offers," said Gonzalo Luchetti, head of Asia-Pacific and EMEA consumer banking.Bank of China (Hong Kong), which has the biggest branch network in the city, has accelerated the roll-out of digital services, speeding up its plans by months, according to Arnold Chow, an executive in charge of the personal digital banking products unit for investment and insurance.DBS Group Holdings signed up more than 24,000 online equity trading accounts since Singapore tightened its coronavirus lockdown on April 7. Photo: Reuters alt=DBS Group Holdings signed up more than 24,000 online equity trading accounts since Singapore tightened its coronavirus lockdown on April 7. Photo: ReutersSingapore's three largest lenders, led by DBS Group Holdings, are reporting huge increases. More than 24,000 online equity trading accounts were opened at DBS since Singapore tightened its lockdown on April 7. The city state saw more than 35,000 migrant workers, who are suffering the brunt of the city's virus outbreak, opening bank accounts in less than two weeks. Oversea-Chinese Banking Corp and United Overseas Bank are reporting similar digital trends.Gains for the bottom line could be significant, absorbing some of the shock from the billions in loan losses provisioned by banks. DBS's digital customers made up 52 per cent of its retail and small business base in Singapore and Hong Kong last year, up by almost a quarter since 2017. Such clients carry a cost-to-income ratio of 33 per cent, compared with 53 per cent for traditional customers, while delivering twice the income per head.At the same time, its digital rivals are being stymied in Singapore, where authorities have pushed back plans to issue licences to the second half of the year from June, citing virus restrictions. Five of Hong Kong's virtual banks miss target launch date as coronavirus slows preparationsHong Kong's challengers have been slow out of the gate, largely offering gimmicks to attract customers. The first mover of the new virtual banks, ZA Bank, attracted interest from about 24,000 people in a programme started in January as it offered a 6.8 per cent deposit rate to select clients. WeLab, backed by Alibaba, is seeking to lure customers before the launch of its bank by offering interest-free loans to pay in advance a HK$10,000 handout promised to each resident as part of the city's virus relief measures.Both banks declined to comment.Like Singapore, Hong Kong has been playing catch-up with other major markets in Asia in financial technology adoption. About 67 per cent of digitally active people in both Asian hubs conducted financial services online last year, far below the reach of 87 per cent seen in mainland China and India, according to a report from EY. Virtual banks of Hong Kong, Singapore demand a new crop of IT-savvy professionalsBut the biggest potential gains could be seen in other parts of the world, also under lockdown. In the US, digital banking usage is just 46 per cent, while in Europe the rate varies from as high as 82 per cent in Russia to as low as 35 per cent in France.Lenders are realising that delivering more services digitally makes them more resilient to disruptions in their operations, said Andrew Gilder, Asia-Pacific banking and capital markets leader at EY."In the short term, they could defend some of the threat from the virtual banks," he said.This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2020 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2020. South China Morning Post Publishers Ltd. All rights reserved.

  • How Should Investors React To DBS Group Holdings Ltd's (SGX:D05) CEO Pay?
    Simply Wall St.

    How Should Investors React To DBS Group Holdings Ltd's (SGX:D05) CEO Pay?

    Piyush Gupta became the CEO of DBS Group Holdings Ltd (SGX:D05) in 2009. First, this article will compare CEO...

  • Reuters

    SE Asia Stocks-Markets skid on coronavirus resurgence fears; Singapore drops most

    * Singapore down after 4 straight session of gains * Financials drag Indonesian stocks lower * Philippines set to extend lockdown in some areas By Pranav A K May 12 (Reuters) - Southeast Asian stock markets fell on Tuesday amid fears of a coronavirus resurgence in China and its implications for countries easing restrictions, while prospects of Sino-U.S. tensions flaring further also weighed on sentiment. The central Chinese city of Wuhan, where the pandemic originated late last year, reported its first cluster of infections since a lockdown was lifted a month ago, casting doubts of a wider resurgence, while the reproduction rate in Germany remained above the critical threshold of 1 on Monday. Meanwhile, U.S. President Donald Trump said he opposed renegotiating the "Phase 1" trade deal with China after a Chinese state-run newspaper reported some government advisers in Beijing were urging fresh talks and possibly invalidating the agreement.

  • Reuters

    SE Asia Stocks-Most climb on optimism over easing coronavirus restrictions

    * The Philippines top gainer in region * Malaysia policy decision later in the day * Thailand falls By Nikhil Subba May 5 (Reuters) - Most Southeast Asian stock markets on Tuesday clawed back some ground lost in the previous session, as phased easing of coronavirus restrictions by some countries and U.S. states bolstered hopes of an economic recovery. Sentiment was also aided by a firmer finish on Wall Street overnight, as a rally in tech stocks eclipsed worries about simmering U.S.-China tensions over the coronavirus' origin. Meanwhile, shares of conglomerates Ayala Corp and Metro Pacific Investments Corp climbed 6.8% and 8.8%, respectively, after President Rodrigo Duterte apologised to the firms' owners for his "hurting words".

  • Reuters

    SE Asia Stocks-Climb on coronavirus treatment progress, higher oil prices

    * Singapore at near two-week peak, set for best day since April 14 * DBS Group at 7-week peak after bank retains quarterly dividend * Indonesia hits highest level since April 15 By Nikhil Subba April 30 (Reuters) - Southeast Asian stock markets climbed on Thursday as progress in the development of a COVID-19 treatment and higher oil prices spurred a rally. Falling infection rates and phased reopening of economies around the globe have boosted appetite for equities this week, with early results from a U.S government clinical trial showing that Gilead Sciences Inc's experimental drug remdesivir helped certain COVID-19 patients recover more quickly.

  • DBS flags stable outlook despite record credit losses on pandemic
    Reuters

    DBS flags stable outlook despite record credit losses on pandemic

    DBS Group Holdings forecast annual profit before allowances at around 2019 levels but set aside record high quarterly provisions due to the coronavirus pandemic which pulled down profit by 29%. "Our record operating performance in the first quarter has given us a head start to face the challenges of the coming year," said CEO Piyush Gupta, adding that DBS would not retrench staff or cut salaries even as it reduces costs elsewhere. Gupta expects annual profit before allowances to be flat and said net interest margins are set to weaken due to lower interest rates.

  • Reuters

    SE Asia Stocks-Tick up on easing restrictions; Fed decision in focus

    * Thai stocks hit highest since March 9 * Telecoms lift Indonesia, Singapore By Nikhil Subba April 29 (Reuters) - Southeast Asian stock markets edged higher on Wednesday, as investors cheered easing coronavirus curbs in some parts of the world while awaiting preliminary estimate for first-quarter U.S. economic growth and the Federal Reserve's policy decision. Market participants are now looking for any guidance from the Fed, which is due to issue a policy statement at the close of its two-day meeting later in the day. In Southeast Asia, Thai shares rose as much as 0.9% to their highest since March 9.

  • Reuters

    SE Asia Stocks-Mixed as grim warnings for global economy offsets Chinese rate cut

    * Indonesia top loser, down 1.7% * Philippines hits highest close in over a month, up nearly 3% * Drop in oil prices pressuring Thai energy sector - analyst By Arundhati Dutta April 15 (Reuters) - Southeast Asian stocks ended mixed on Wednesday, with losses led by Indonesia and Thailand, as warnings of a global recession and a sharp decline in oil prices offset a key interest rate cut by the Chinese central bank. The global economy is expected to shrink by 3.0% this year in a stunning coronavirus-driven collapse of activity that will mark the steepest downturn since the Great Depression, the International Monetary Fund said on Tuesday.

  • Reuters

    SE Asia Stocks-Rise as China data tops expectations, Philippines surges 3%

    * The Philippines leads gains, up 3% * Indonesia c.bank cuts RRR, holds rates * China March exports fall 6.6% y/y By Arundhati Dutta April 14 (Reuters) - Southeast Asian stock markets rose on Tuesday on better-than-expected trade data from China and signs of the coronavirus outbreak peaking in certain hotspots. Data from China, the region's biggest trading partner, showed that exports fell 6.6% in March compared with a year earlier, less than analysts' estimate of a 14% plunge. Big caps Ayala Corp and Bank of the Philippine Islands rose 8.3% and 5.2%, respectively.

  • Reuters

    SE Asia Stocks-Climb in thin trade on signs of pandemic peaking

    * Singapore, Philippines up over 2% * Indonesia c.bank may stay on hold - poll By Arundhati Dutta April 14 (Reuters) - Southeast Asian markets rose in thin trade on Tuesday, tracking broader equities on signs of the coronavirus pandemic peaking, amid high caution ahead of Chinese trade data and an uncertain U.S. earnings season. Singaporean stocks advanced up to 2.4%, hitting their highest level in a month. Heavyweight financials United Overseas Bank Ltd and DBS Group Group Holdings Ltd rose over 2%, each.

  • Reuters

    SE Asia Stocks-Vietnam leads gains as markets end higher on hopes of pandemic peaking

    * Vietnam up for seventh session * Indonesia recovers from early losses, closes up * Philippines closed for a holiday By Arundhati Dutta April 9 (Reuters) - Southeast Asian stock markets tracked global equities to close higher on Thursday, with gains led by Vietnamese stocks, as investor sentiment was boosted by hopes of the coronavirus pandemic peaking and stimulus efforts by governments. Aiding sentiment, Wall Street notched firm gains overnight after New York's governor said social distancing measures are working to keep the pandemic under control in the hard-hit state.

  • Reuters

    SE Asia Stocks-Most markets track Wall Street rise on hopes of pandemic peaking

    * Expected oil output cut boosts Thai energy stocks * Vietnam up for seventh session * Indonesia sole loser, Philippines market on holiday By Arundhati Dutta April 9 (Reuters) - Most Southeast Asian stock markets rose on Thursday, tracking an upbeat session on Wall Street, as hopes for the coronavirus outbreak nearing its peak rose, while expectations of a cut in oil output pushed the energy-heavy Thai index higher. New York Governor Andrew Cuomo said on Wednesday the state's efforts at social distancing are working to get the pandemic under control, while U.S. President Donald Trump said he would like to reopen the U.S. economy with a "big bang". Energy stocks rose in tandem with crude futures on expectations that the world's largest oil producers would agree to cut production at a meeting later in the day.

  • Have Insiders Been Buying DBS Group Holdings Ltd (SGX:D05) Shares This Year?
    Simply Wall St.

    Have Insiders Been Buying DBS Group Holdings Ltd (SGX:D05) Shares This Year?

    We've lost count of how many times insiders have accumulated shares in a company that goes on to improve markedly...

  • Reuters

    SE Asia Stocks-Most markets track Wall Street, Asian stocks higher as virus deaths slow

    * Thailand leads gains in Southeast Asia * Philippines extends gains to third session * Indonesia falls as financials weigh By Arundhati Dutta April 7 (Reuters) - Most Southeast Asian stock markets tracked Wall Street and Asian equities higher on Tuesday, with Thailand rising the most, although gains were capped following a spike in infections due to the coronavirus in the region. As the number of daily deaths in New York steadied and fatalities slowed across western Europe, all three U.S. main indexes closed more than 7% higher on Monday, lifting Asian equities to their second straight day of gains on Tuesday.

  • Reuters

    SE Asia Stocks-Markets track global equities higher as virus slows

    * Vietnam rises as much a 3.7% * Indonesia up for 3rd session, hits 3-wk high By Arundhati Dutta April 6 (Reuters) - Southeast Asian stock markets inched higher on Monday, tracking global equities that gained due to a slowdown in coronavirus-related deaths and new infections. Australia's benchmark index rose 0.5%, Japan's Nikkei gained 0.2% and South Korea's KOSPI index climbed 1.4%, while MSCI's broadest index of Asian shares outside of Japan edged up 0.1% Aiding sentiment further, U.S. stock futures gained more than 1.5% in early Asian trading after U.S. President Donald Trump expressed hope the country was seeing a "levelling off" of the coronavirus crisis.

  • Reuters

    SE Asia Stocks-Singapore, Philippines track Wall Street lower; Malaysia rises

    * Malaysia says virus infection curve flattening * Singapore falls for second straight day By Arundhati Dutta April 2 (Reuters) - Markets in Singapore and the Philippines fell on Thursday, tracking their peers in the United States on persisting fears about the coronavirus' spread and a recession, while Malaysian shares rose on reports of a slowing rate of new infections. "Difficult days are ahead for our nation," Trump told reporters at the White House on Wednesday. In Singapore, the benchmark index fell for a second straight day, losing up to 2%.

  • Reuters

    SE Asia Stocks-Most end lower as virus anxiety weighs; Malaysia leads fall

    * Indonesia reverses course, ends 1.6% down * Malaysia posts biggest intraday drop in over a week * Thailand dragged by financials By Arundhati Dutta April 1 (Reuters) - Most Southeast Asian markets ended lower on Wednesday as anxiety about the spreading coronavirus and a looming global recession prevailed over regional government efforts to cushion their economies from the pandemic. PT Bank Central Asia Tbk shed 0.8%.

  • Reuters

    SE Asia Stocks-Drop on coronavirus jitters; Singapore eases monetary policy sharply

    * Singapore c.bank eases monetary policy aggressively * Malaysia warns of surge in coronavirus cases in mid-April * Indonesia faces calls to tighten movement restrictions By Arundhati Dutta March 30 (Reuters) - Southeast Asian stock markets dropped on Monday as worries over a severe economic damage in the region following a rise in new coronavirus cases outweighed central banks' efforts to calm investor nerves through aggressive policy easing. The number of fresh cases and deaths rose in several countries in the region, with Malaysia warning of a surge in the number of cases in mid-April.

  • Thomson Reuters StreetEvents

    Edited Transcript of D05.SI earnings conference call or presentation 13-Feb-20 2:30am GMT

    Full Year 2019 DBS Group Holdings Ltd Earnings Media Briefing

  • Reuters

    SE Asia Stocks-Most gain on U.S. stimulus boost, Singapore down on growth outlook cut

    * Singapore Q1 GDP contracts more than expected * Singapore set to announce additional stimulus package * Indonesia set for best day in 6-1/2 years By Arpit Nayak March 26 (Reuters) - Most South East Asian stocks rose on optimism around a massive U.S. stimulus package, although Singapore shares fell after the city-state cut its annual growth forecast to better reflect the economic damage from the coronavirus pandemic. The U.S. Senate on Wednesday unanimously passed a $2-trillion bill aimed at helping unemployed workers and industries hurt by the virus outbreak. Thailand has put into effect a state of emergency until the end of April, sealing off its borders from non-resident foreigners to contain the virus, though it held off on restricting people's movement inside the country At odds with the regional trend, Singapore stocks eased as much as 2.9% after its economy contracted more than expected in the first quarter.

  • Reuters

    SE Asia Stocks-Most rebound on Fed liquidity boost; Singapore leads gains

    * Indonesia marks best day in three weeks * Thai cenbank likely to cut rates to new low * Philippine cenbank to buy $5.8 bln govt securities By Arpit Nayak March 24 (Reuters) - Most Southeast Asian stock markets rebounded on Tuesday, as the U.S. Federal Reserve pledged unlimited quantitative easing to support credit markets in a bid to backstop an economy reeling from emergency restrictions to fight the coronavirus. In an unprecedented move, the Fed said on Monday it would make a foray into corporate debt and pledged to buy an unlimited amount of U.S. Treasuries and agency mortgage-backed securities to ease credit strains and provide support to the virus-hit economy. "Asian investors like what they see from an all-in Fed which is being viewed in a very impressive light for both Main and Wall Street, even as the U.S. congress dithers," Stephen Innes, chief global markets strategist at AxiCorp, said in a note.