Asian stocks were set for a modest bounce on Tuesday as U.S. stock futures edged higher, although fears the coronavirus could drag on the global ...
Asian stocks were set for a modest bounce on Tuesday as U.S. stock futures edged higher, although fears the coronavirus could drag on the global economy for months are likely to temper investor confidence.
Indeed, some analysts are saying any optimism over signs the outbreak may be peaking in hard-hit cities is quickly being offset by concerns that it may be awhile yet before businesses recover. 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.
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 10per cent of world supply. U.S. crude was up just 39 cents at US$22.8, well under its January peak of US$63.27.
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