Asian share markets managed a tentative rally on Tuesday after European and U.S. equities stabilized, though buying for month and quarter-end book ...
SYDNEY: Asian share markets managed a tentative rally on Tuesday after European and U.S. equities stabilized, though buying for month and quarter-end book balancing likely flattered the gains.
If a company merely resumed working after a forced stoppage, it would read as an expansion without saying much about the overall level of activity. Healthcare had led Wall Street higher, with the Dow ending Monday up 3.19 per cent, while the S&P 500 gained 3.35 per cent and the Nasdaq 3.62 per cent. Trade ministers from the Group of 20 major economies agreed on Monday to keep their markets open and ensure the flow of vital medical supplies.Portfolio management also played a part in the forex market where many fund managers found themselves over-hedged on their U.S. equity holdings given the sharp fall in values seen this month, leading them to buy back dollars.
Oil prices plunged to the lowest in almost 18 years on Monday as lockdowns for the virus squeezed demand even as Saudi Arabia and Russia vied to pump more product. "The lockdown of cities around the world and the shutdown of the aviation industry will cause a fall in demand the industry has never seen before."
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