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| - World stock markets rebounded Wednesday as investors hoped that the deadly coronavirus will have only a short-term impact on corporate earnings and economic growth. Wall Street opened firmer, providing additional momentum to gains already notched up by Europe's main markets earlier in the session. Shortly after the start of trade, the Dow Jones in New York was up by 0.3 percent, London stocks were showing a gain of 1.0 percent, Frankfurt added 0.7 percent and Paris rose by 0.8 percent. "A small decline in the number of coronavirus cases combined with a determination on behalf of the Chinese government to ward off the economic damage is seeing an uplift in market mood," said London Capital Group analyst Jasper Lawler. "We aren't putting too much stock in the official China figures, which appear to paint a picture rather than reflect reality. But if Beijing ups stimulus measures then those economic effects are real." Oanda Europe analyst, Craig Erlam, agreed. "Investors still appear encouraged by the apparent deceleration in the number of new coronavirus cases, despite the death toll in China having surpassed 2,000," he wrote in a note to investors. "I guess the damage is less important than the knowledge that the central banks stand ready to throw money at the problem. In such an environment, it's no wonder everything is a dip-buying opportunity." On Tuesday, US and European indices had dropped after Apple warned that it would miss its quarterly revenue forecast due to the epidemic. But Asian bourses turned higher Wednesday as investors bet on policymakers doing what is needed to minimise the fallout from the virus outbreak. The illness, which has killed more than 2,000 people and infected over 74,000, has disrupted supply chains and forced the cancellation of high-profile sporting and cultural events. After four straight sessions in the red, Tokyo's benchmark Nikkei 225 index closed up 0.9 percent. Hong Kong won 0.5 percent but mainland China's key Shanghai Composite Index sagged 0.3 percent. The more sanguine mood came as Chinese officials released a study showing most patients have mild cases of the coronavirus, and World Health Organization officials said the mortality rate was relatively low. IMF chief Kristalina Georgieva has said there could be a cut of around 0.1 - 0.2 percentage points to global growth but stressed there was much uncertainty about the virus's economic impact. World oil prices meanwhile rebounded on hopes over solid energy demand in China. The Asian powerhouse is the world's biggest importer and consumer of oil -- and prices have been particularly sensitive to the epidemic that has spread to nearly 30 countries and territories. London - FTSE 100: UP 1.0 percent at 7,455.39 points Frankfurt - DAX 30: UP 0.7 percent at 13,778.78 Paris - CAC 40: UP 0.8 percent at 6,108.14 EURO STOXX 50: UP 0.7 percent at 3,862.83 New York - Dow: UP 0.3 percent at 29,316.12 Tokyo - Nikkei 225: UP 0.9 percent at 23,400.70 (close) Shanghai - Composite: DOWN 0.3 percent at 2,975.40 (close) Hong Kong - Hang Seng: UP 0.5 percent at 27,655.81 (close) Euro/dollar: DOWN at $1.0790 from $1.0803 Pound/dollar: UP at $1.3005 from $1.2998 Euro/pound: UP at 83.29 pence from 83.03 pence Dollar/yen: UP at 110.84 from 110.22 Brent Crude: UP 1.6 percent at $58.64 per barrel West Texas Intermediate: UP 1.4 percent at $53.00 burs-spm/jv
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