Asian share markets got off to a shaky start on Monday as the relentless spread of the coronavirus finally made investors question their optimism on the global economy, benefiting safe harbour bonds and the U.S. dollar.
FILE PHOTO: A man wearing a protective face mask, following the coronavirus disease outbreak, walks in front of a stock quotation board outside a brokerage in Tokyo, Japan, May 18, 2020. REUTERS/Kim Kyung-Hoon
About one-quarter of all the deaths so far have been in the United States, with cases surging in a handful of southern and western states that reopened earlier. “Our strategists remain sanguine and recommend to buy on dips but also selectivity,” they added. “Traditional hedges like JPY vs USD, USD vs EM FX, Gold and quality stocks are still outperforming this month. We stay overweight U.S. equities but move EM equities to neutral and stay neutral U.S. credit.”
The U.S. dollar went the opposite direction, rising to 97.461 against a basket of currencies from a trough of 95.714 earlier in the month.
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 Today: India cases cross 500,000; China, Korea also upIndia’s confirmed coronavirus cases cross half a million with another record 24-hour jump of 18,552 infections. The Health Ministry also reports 384 new deaths, raising the total to 15,685.
Read more »
Trump surrogate, Biden discuss immigration, race relations in Asian American town hall“Asian Americans are being targeted with violence in subject to xenophobic rhetoric from the mouth of the president himself,” Joe Biden said during the AAPITownHall. - NBCAsianAmerica
Read more »
Shares in Asia Pacific fall as global coronavirus death toll crosses 500,000; oil prices declineStocks in Asia Pacific fell in Friday morning trade as the number of coronavirus cases globally continues to rise.
Read more »
Forbes Insights: Where Asia Is Taking The World With AIDr. Ayesha Khanna, CEO of ADDO AI, and Dr. Parag Khanna, Managing Partner of FutureMap, provide an overview of how AI is unfolding in Asia Sponsored by IBM
Read more »
Apocalyptic Pests: Locust Swarms Hit Asia And South America, Affecting MillionsClouds of the apocalyptic insects have descended across the world this week.
Read more »