Asia's factories took a heavy hit in February from the coronavirus outbreak...
TOKYO - Asia’s factories took a heavy hit in February from the coronavirus outbreak with activity in China shrinking at a record pace, business surveys showed on Monday, adding to fears the crisis risks triggering a global recession.
That followed the Chinese government’s similarly dire PMI release on the weekend, which also showed a record pace of decline. Investors now await PMI readings out of major euro zone economies due later in the day, which are also expected to point to declining activity. “Near-term prospects for Japan’s industrial sector appear very bleak,” said Joe Hayes, economist at IHS Markit, which compiles the survey.
BOJ Governor Haruhiko Kuroda on Monday joined U.S. counterpart Jerome Powell in pledging to take necessary steps to stabilise markets jolted by the virus.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Treasury Yields Near 1% as Asian Markets Open LowerThe rally in U.S. government bonds broke fresh ground, with the yield on the benchmark 10-year debt dropping to as low as 1.031%, after a week of steep stock-market selloffs and escalating bets on interest-rate cuts.
Read more »
Asian markets set for more losses as coronavirus spreadsStock futures plummeted on Monday as investors were rattled by weekend data from...
Read more »
Green Day Postpone Asia Tour Dates Amid Growing Coronavirus ConcernsGreen Day has canceled a series of Asian tour dates scheduled for early March, citing “health + travel concerns with coronavirus”
Read more »
Asian-Americans Are Being Attacked Over Coronavirus FearsDesigners Phillip Lim and Prabal Gurung are speaking out against the discrimination Asian people have faced as coronavirus spreads across the globe:
Read more »
Avril Lavigne Cancels Tour Stops in Asia Amid Coronavirus FearsAvril Lavigne's pulling out of her upcoming tour stops in Asia over growing concerns about the coronavirus.
Read more »
6 apps made my month of nonstop travel in Asia infinitely easier and more enjoyable - Business InsiderWithout these six apps — including Grab, Maps.Me, and Instagram — my trip would have been far worse.
Read more »