Asian shares slipped on Monday and oil prices took another tumble as fears mounted that the global shutdown for the coronavirus could last for months, doing untold harm to economies despite central banks' best efforts.
SYDNEY - Asian shares slipped on Monday and oil prices took another tumble as fears mounted that the global shutdown for the coronavirus could last for months, doing untold harm to economies despite central banks’ best efforts.
Japan’s Nikkei dropped 2.7% and Shanghai blue chips 1.8%. MSCI’s broadest index of Asia-Pacific shares outside Japan lost 0.7%, though that was up from early lows. Rodrigo Catril, a senior FX strategist at NAB, said the main question for markets was whether all the stimulus would be enough to help the global economy withstand the shock.
U.S. President Donald Trump on Sunday extended guidelines for social restrictions to April 30, despite earlier talking about reopening the economy for Easter. “Ultimately, we expect the USD will soon reassert itself as one of the strongest currencies,” argued analysts at CBA, noting the dollar’s role as the world’s reserve currency made it a countercyclical hedge for investors.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Asia shares suffer virus chills, central banks offer what they canAsian shares slid on Monday and oil prices took another tumble as fears mounted that the global shutdown for the coronavirus could last for months, doing untold harm to economies despite central banks' best efforts.
Read more »
Rumors hampering fight against coronavirus in South AsiaAs India and other South Asian nations brace for the spread of the coronavirus, they face another battle: misinformation. Social media are rife with bogus remedies, tales of magic cures and hazardous medical advice.
Read more »
Asia shares under threat as futures fall earlyAsian share markets looked set for a rocky start on Monday as U.S. stock futures took an early spill amid fears the global shutdown for the coronavirus could last for months, doing untold harm to economies.
Read more »
Asia stocks set to trade lower as investors continue to assess economic impact of coronavirus pandemicInvestors will continue to watch for developments on the global coronavirus outbreak, which has already infected more than 691,000 worldwide and taken at least 32,000 lives, according to data compiled by John Hopkins University.
Read more »
'They look at me and think I'm some kind of virus': What it's like to be Asian during the coronavirus pandemicFor the Asian American community, the dirty looks, the harassment and the physical abuse began long before coronavirus spread across the country.
Read more »