Asian stock markets are mostly higher after Wall Street gained on hopes government aid and central banks can shield the global economy against the rising impact of the coronavirus pandemic.
This photo provided by the New York Stock Exchange, Thursday, March 19, 2020, shows trader Gregory Rowe, center, as he works on the trading floor. Stocks are see-sawing between gains and losses in midday trading on Wall Street Thursday, but the moves are more subdued than the wild jabs that have dominated recent weeks.
Investors were encouraged after seeing more steps by the Federal Reserve and other central banks and governments to support credit markets and the economy. On Thursday, the European Central Bank launched a program to inject money into credit markets by purchasing up to 750 billion euros in bonds. The Bank of England cut its key interest rate to a record low of 0.1%. Australia’s central bank also cut its benchmark lending rate to 0.25%. Central banks in Taiwan, Indonesia and the Philippines also cut their benchmark rates.
New Zealand was down 0.3%. Shares rose in Singapore and Bangkok but fell in Malaysia and Indonesia, where the number of cases of the virus has been soaring. Investors are jumpy due to uncertainty about the size and duration of the impact of the coronavirus and the spreading wave of business shutdowns meant to help contain it.Unease has grown as forecasters say a global recession looks increasingly likely and have cut growth outlooks for the United States, China and other major economies.
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.
Asian shares resume decline after latest Wall St tumbleBANGKOK (AP) — Shares in Asia failed to hold onto opening gains on Thursday, skidding further after the latest selloff on Wall Street. Stocks fell in Tokyo, Sydney, Hong Kong and Seoul in...
Read more »
Wall Street slumps, government bonds hammered as stimulus high fadesGlobal stocks stumbled back into the red on Wednesday as fears over the coronavirus fallout eclipsed large-scale support measures rolled out by policymakers around the globe
Read more »
Wall Street tempers begin to flare over coronavirus work-from-home policyWith New York city poised to follow San Francisco with a 'shelter in place&...
Read more »
Stocks Plunge As Coronavirus Continues To Cause Unprecedented Volatility On Wall StreetStocks were down again on Wednesday, erasing the previous session’s gains as investors grappled with ongoing uncertainty from the coronavirus.
Read more »