Asia shares jump but pandemic hangs heavy over outlook
Skip to main content
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
The Business Standard

Friday
January 27, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
FRIDAY, JANUARY 27, 2023
Asia shares jump but pandemic hangs heavy over outlook

Global Economy

Reuters
14 April, 2020, 08:55 am
Last modified: 14 April, 2020, 11:44 am

Related News

  • China says Covid deaths down by nearly 80 percent
  • Updated Covid vaccines prevented illness from latest variants -CDC
  • US proposes once-a-year Covid shots for most Americans
  • Covid-19 cut known human trafficking, but Ukraine war a risk: UN
  • New Omicron subvariant accounts for nearly half US new Covid infections

Asia shares jump but pandemic hangs heavy over outlook

All eyes will be on China’s trade data, which is expected to show exports tumbling 14% in March from a year ago, as the coronavirus shutters businesses around the world, crippling demand and economic growth

Reuters
14 April, 2020, 08:55 am
Last modified: 14 April, 2020, 11:44 am
Passersby wearing protective face masks following an outbreak of the coronavirus disease (COVID-19) are reflected on a screen displaying stock prices outside a brokerage in Tokyo, Japan, March 17, 2020/ Reuters
Passersby wearing protective face masks following an outbreak of the coronavirus disease (COVID-19) are reflected on a screen displaying stock prices outside a brokerage in Tokyo, Japan, March 17, 2020/ Reuters

Asian stocks bounced on Tuesday on hopes the coronavirus outbreak may be peaking, though sentiment was cautious ahead of Chinese trade data and corporate earnings as investors worried about a deep global recession.

Chinese shares started firm with the blue-chip index up 0.7%. Australian shares were up 0.6% while South Korea's KOSPI index and Japan's Nikkei each gained 1.4%.

Hong Kong's Hang Seng  rose 0.2%.

That left MSCI's broadest index of Asia-Pacific shares excluding Japan up 0.6%.

E-Mini futures for the S&P 500 ESc1 were modestly higher, up 0.2%.

All eyes will be on China's trade data, which is expected to show exports tumbling 14% in March from a year ago, as the coronavirus shutters businesses around the world, crippling demand and economic growth.

Indeed, some analysts say any optimism over signs the outbreak may be peaking in hard-hit cities is quickly being offset by concerns that it may be a while before businesses recover.

"Signs of the outbreak peaking - or at least slowing in some regions - have started to turn the talk to when restrictions on activity can be eased," analysts at JPMorgan said in a note.

"Short of the unlikely near-term event of a vaccine or significant herd immunity, restarting economies ... may be challenging," the analysts wrote.

Wall Street indexes ended mixed on Monday with the Dow and S&P 500 falling while a 6.2% gain in Amazon shares helped the Nasdaq end higher.

In Asia, an expected trade slump in China will reinforce views that the world is headed for a global recession this year, despite an unprecedented burst of stimulus from policymakers in the last two months to shore up growth.

Many analysts already expect China's economy, the world's second-largest, to have contracted sharply in the March quarter for the first time since at least 1992. China reports its first-quarter gross domestic product data on April 17.

A weak report could see China boost monetary and fiscal stimulus in a bid to reflate its economy.

"If we see greater signs that China is vigorously supporting domestic economic activity, then the global industrial cycle will recover with great alacrity in the second half of 2020," Montreal-based BCA Research wrote in a note on Monday.

"This will be positive for commodities, especially industrial metals, but it will hurt the US dollar and push yields higher," it added.

"It would also arrest the stimulus-driven outperformance of US equities, due to their low exposure to industrials, materials and financials."

Elsewhere, Britain's finance minister told colleagues the UK economy could shrink by up to 30% this quarter due to the coronavirus lockdown that has shuttered businesses.

In another sign of worries about struggling global demand, oil prices barely reacted to a global deal to cut output by a record amount of nearly 10% of world supply. US crude CLc1 was up just 35 cents at $22.8, well under its January peak of $63.27.

Brent crude LCOc1 gained 49 cents to $32.23 a barrel.

A skittish market helped gold prices cling to highs not seen in more than seven years at $1,715.6 an ounce.

In the United States, which has recorded the highest number of casualties from the virus in the world, President Donald Trump said on Monday his administration was close to completing a plan to re-open the US economy. However, some state governors have signalled that the decision on when to restart businesses lay with them.

The dollar continued to extend losses on the back of the US Federal Reserve's massive new lending programme. The greenback was a touch weaker against the Japanese yen at 107.62. The euro was up a touch at $1.0923. The risk-sensitive Australian dollar  jumped 0.5% to $0.6415.

Coronavirus chronicle / World+Biz / Top News

Asian shares / Coronavirus / COVID-19

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • Manufacturers feel the pinch as consumers tighten belt
    Manufacturers feel the pinch as consumers tighten belt
  • Sugar turning bitter!
    Sugar turning bitter!
  • Ministries, divisions with highest allocation lag in ADP implementation
    Ministries, divisions with highest allocation lag in ADP implementation

MOST VIEWED

  • Bank of England set to hike to 4% as rate peak looms
    Bank of England set to hike to 4% as rate peak looms
  • Illustration: Jinhwa Jang for Bloomberg Businessweek
    Is a US recession near? Making the call is trickier than ever
  •  Gautam Adani, center.Photographer: Tomohiro Ohsumi/Bloomberg
    The Adani short sale puts investor trust in India in doubt
  • IFIs like the IMF will need to provide new finance early on. Photo: Reuters.
    Pakistan seeks US help in unlocking $1.1 billion IMF loan - Dawn
  • Photo: Collected
    IMF: BOJ should let long-term yields rise, be ready to raise rates
  • A view of the city skyline and Huangpu river, ahead of the annual National People's Congress (NPC), in Shanghai, China February 24, 2022. REUTERS/Aly Song
    China's open borders and push to stoke economy may revive dealmaking, advisers say

Related News

  • China says Covid deaths down by nearly 80 percent
  • Updated Covid vaccines prevented illness from latest variants -CDC
  • US proposes once-a-year Covid shots for most Americans
  • Covid-19 cut known human trafficking, but Ukraine war a risk: UN
  • New Omicron subvariant accounts for nearly half US new Covid infections

Features

According to the CAB president Ghulam Rahman, one of the most common complaints of consumers is being deceived by sellers when it comes to the weight of goods. Photo: TBS

Has the Directorate improved consumer rights in Bangladesh?

1d | Panorama
A 2022 survey of 1,000 companies by professional services consultancy PwC found that between a sixth and a quarter had used AI in recruitment or employee retention in the past 12 months. Illustration: Bloomberg

AI is coming to your workplace. Is the world ready?

1d | Panorama
Edison Desdemona, the newly launched stellar project of Edison Real Estate, located at Bashundhara Residential Area. Photo: Courtesy

EDISON DESDEMONA: A creation like no other

2d | Habitat
BruTown by PARTI.studio. Photo: Junaid Hasan Pranto

Interesting ceiling design ideas to elevate any space

2d | Habitat

More Videos from TBS

Kajol’s road paintings bring change in Gafargaon

Kajol’s road paintings bring change in Gafargaon

8h | TBS Stories
Carew & Company witnessed a remarkable growth

Carew & Company witnessed a remarkable growth

9h | TBS Stories
PCB recalls cricketers from BPL ahead of PSL

PCB recalls cricketers from BPL ahead of PSL

11h | TBS SPORTS
Why Misha Sawdagar became villain instead of a Hero?

Why Misha Sawdagar became villain instead of a Hero?

10h | TBS Entertainment

Most Read

1
Picture: Collected
Bangladesh

US Embassy condemns recent incidents of visa fraud

2
Four top bankers arrested in DSA case filed by S Alam group 
Bangladesh

Four top bankers arrested in DSA case filed by S Alam group 

3
Illustration: TBS
Banking

16 banks at risk of capital shortfall if top 3 borrowers default

4
A frozen Beyond Burger plant-based patty. Photographer: AKIRA for Bloomberg Businessweek
Bloomberg Special

Fake meat was supposed to save the world. It became just another fad

5
Photo: Collected
Splash

Hansal Mehta responds as Twitter user calls him 'shameless' for making Faraaz

6
Ctg Port Gets A Boost: The Chattogram port officially starts to berth vessels with 10 metres drought on Monday. As of now, only 9.5m draught vessels could anchor at the port, each carrying 2,500 TEUs. But the 10m draught ship will be able to carry 4,000 TEUs, bumping up the port’s container handling capacity and bringing down costs. The photo was taken recently from the port area. Photo: Mohammed Minhaj Uddin
Bangladesh

Dollar crisis: 3 ships with 54,000 tonnes of goods get stuck at Ctg port

EMAIL US
[email protected]
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - [email protected]

For advertisement- [email protected]