64th Day Of Lockdown

Maharashtra54758169541792 Tamil Nadu177289342128 Delhi152577264303 Gujarat148297139915 Rajasthan76804341172 Madhya Pradesh70243689305 Uttar Pradesh67243824177 West Bengal40091486283 Andhra Pradesh3117206558 Bihar300680014 Karnataka240576245 Punjab2106191840 Telangana1991128457 Jammu and Kashmir175983324 Odisha15937337 Haryana130582416 Kerala9645426 Assam683634 Jharkhand4261534 Uttarakhand400644 Chhatisgarh360790 Chandigarh2781874 Tripura2321650 Himachal Pradesh223634 Goa67280 Puducherry49170 Manipur3940 Meghalaya20121 Nagaland900 Arunachal Pradesh210 Mizoram110 Sikkim100
Business Market 30 Mar 2020 Asian shares extend ...

Asian shares extend losses as toll from pandemic surges

REUTERS
Published Mar 30, 2020, 9:15 am IST
Updated Mar 30, 2020, 1:21 pm IST
Dollar suffered its biggest weekly decline in more than a decade last week
Representative Image (AFP)
 Representative Image (AFP)

HONG KONG: Asian markets fell Monday following a steep drop on Wall Street as the jubilation from last week's enormous US stimulus package faded and investors returned their attention to the soaring infection and death rate of the coronavirus.

Donald Trump finally signed off the more than $2 trillion pump-priming measures on Friday, but equities which enjoyed a rally for much of the week -- ended on a negative note as dealers took profits.

 

While the disease ravages populations and the global economy grinds to a halt with 40 percent of the planet in lockdown, experts are struggling to get a grip on the scale of the crisis that is forecast to cause a worldwide recession.

And analysts say there are likely more dark days ahead, with Trump abandoning his timetable for life returning to normal in the United States and extending emergency restrictions for another month.

The president said he expected the country to "be well on our way to recovery" by June 1 dropping his previous target of mid-April.

Meanwhile, senior US scientist Anthony Fauci issued a tentative prediction that COVID-19 could claim up to 200,000 lives in the US.

Governments and central banks have acted to shore up the global economy, pledging around $5 trillion in stimulus support, with China on Monday joining the party by lowering bank borrowing costs and pumping billions of dollars into financial markets, while Singapore also eased rates.

AxiCorp's Stephen Innes said markets looked like they were "nearing policy fatigue where it becomes less effective, and as the surprise element diminishes, no one cares".

He also pointed out that with the corporate reporting season approaching "now we are about to enter a vortex of bad earnings, bad economic data, and bankruptcies."

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