The name of Hong Kong Exchanges and Clearing Limited is displayed at the entrance in Hong Kong, China January 24, 2018. — Reuters pic
But a slew of monumentally bad data has highlighted the struggle governments face is reigniting economies, with hundreds of millions of people left jobless and countless companies going under or on the brink. That came a day after payrolls firm ADP said the US private sector lost 20.2 million jobs last month alone, sending shivers through markets, days ahead of the release of a key government report that is forecast to show a historic fall in employment.
But Tokyo, which was returning after an extended holiday weekend, ended 0.2 per cent higher, while there were also gains in Wellington and Taiwan as well as Manila despite data showing the Philippines economy shrunk in the first quarter for the first time in more than two decades.“We remain concerned about the potential for the pandemic to have lasting effects on growth,” Ron Temple of Lazard Asset Management said.
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