Global markets are trading in positive territory Monday after Japan’s central bank took further steps to revive an economy shattered by the coronavirus pandemic. 

Japan’s benchmark Nikkei index gained 521 points, or 2.7%, closing at 18,783.22, after the Bank of Japan announced it was buying billions of dollars in government bonds and corporate debt.    

The benchmark indexes in Hong Kong, Sydney, Shanghai and Seoul were also posting significant gains in late afternoon trading. 

In oil futures trading, U.S. benchmark West Texas Intermediate crude was trading at $14.60 per barrel, a loss of nearly 14%, while Brent crude, the international standard, was trading at $20.31 per barrel, down 5.2%.  Oil markets have been struggling since the COVID-19 pandemic took hold, with government imposed quarantines choking off demand and causing a massive glut of supplies.