Pandemic fears wiped more than $5-trillion from global share value last week
Singapore — Asian shares steadied from early losses on Monday as investors placed their hopes on a co-ordinated global monetary policy response to weather the damaging economic impact of the coronavirus epidemic.
Futures now imply a full 50 basis point cut by the Fed in March while Australian markets are pricing in a quarter-point cut at the RBA’s meeting on Tuesday. “In the very near term until [first quarter] reporting results, we expect Asian equities may remain quite volatile,” they added. Official and private surveys, released on Saturday and Monday respectively, showed China’s factory activity collapsing to its worst levels on record as the virus crippled broad areas of the economy.“Financial markets may overreact until they have visibility on the actual impact.”
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