Asian shares underperformed on Monday and oil prices sunk further as pessimism emerged that the worldwide shutdown and restrictions could last longer, impacting the global economy despite central banks’ necessary measures.
Japan’s benchmark index Nikkei declined by 2.7% and Shanghai blue chips lost 1.8%. MSCI’s broadest index of Asia-Pacific shares outside Japan inched down with 0.7%.
S&P E-Mini futures recovered some losses and recorded a 0.3% increase. The upbeat activity was mainly from surge in demand at the latter part of the month. EUROSTOXXX 50 stabilized at 0.5% as FTSE futures remained neutral.
Central banks implemented all necessary actions including interest rate reductions and intensive asset purchase. These were aimed at relieving financial markets from liquidity issues that the novel coronavirus had inflicted.
The Bank of England will announce next week how quickly it expects the economy to recover from the coronavirus pandemic, but it is unlikely to add to the 100 billion pounds of the fiscal package it released in June. Britain’s economy ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
Oil prices fell on Thursday as the rising global coronavirus cases weighed on fuel demand recovery just as OPEC+ producers are set to increase supply. The Brent contract for October slid 0.05%, or 2 cents, at $44.07 per barrel, while the September ...