Asian markets are launching on the wave of optimism

The moves came as investors reacted to overnight developments on the coronavirus outbreak, following unconfirmed reports of breakthroughs in the development of a drug for the disease.

Reuters cited reports on Wednesday that said a research team at Zhejiang University had found a drug to treat people infected by the new coronavirus. The World Health Organization, however, said in a statement: “There are no known effective therapeutics against this 2019-nCoV.”

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