MSCI’s broadest index of Asia-Pacific shares outside Japan fell 1.2 per cent. Japan’s Nikkei extended yesterday's heavy drop with a 1.5 per cent fall. — AFP pic
Markets in Hong Kong, Sydney, Shanghai and Seoul fell, though futures for the S&P 500 bounced following Wall Street’s 4 per cent plunge overnight. Trump had initially played down the virus’ severity, but White House medical experts now forecast that even if Americans follow unprecedented stay-at-home orders, some 100,000 to 240,000 people could die from the respiratory disease.
“The shift in rhetoric from the White House has hurt some of the more bullish traders,” said Michael McCarthy, chief strategist at brokerage CMC Markets in Sydney, while optimism about local stimulus was waning quickly. “Earnings estimates are too high,” he said. “And when we’re hearing of companies curbing buybacks, and shelving dividend plans, then we should expect this to resonate through earnings downgrades too.”
outdated report.... Oil jumped 20 + % in the world market Dow Jone steaming almost 500 points Asian market to be hot $$$ again today !
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