Analysts warn of further trading turmoil as governments struggle to contain outbreak. FMTNews Asia Market
HONG KONG: Most Asian markets rose Monday as bargain-buyers moved in following last week’s global rout and central banks including the Federal Reserve flagged support measures such as interest rate cuts.
Traders remain worried the disease “will disrupt economic activity more deeply and for longer than had been expected a week or so ago”. Manila also rose but Sydney fell 0.8% after Australia recorded its first death from the virus, while Wellington gave up 1.4%. There were also losses in Taipei and Bangkok.
He added that “since global growth has rested on consumer spending over the last year, if consumers are afraid , the markets will collapse”.
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