Asian markets recovered from the lows on Friday amidst a recovery in crude oil prices and positive U.S. stock futures. All major benchmarks closed in the green despite investors anxiously awaiting the Federal Reserve's annual Jackson Hole conference later in the week for cues on possible asset purchase tapering timeline.
China's Shanghai Composite Index rallied by 1.45 percent or 49.80 points to end trade at 3,477.13 amidst relief over reports that there were no new locally transmitted Covid-19 cases for the first time since July. Sentiment also improved upon govt official's comment on the country's cross-cyclical macroeconomic policy and its stabilizing effect on economic fluctuations.
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