Asian shares paused at one-month highs on Wednesday as warnings of the worst global recession since the 1930s underlined the economic damage already done even as some countries tried to re-open for business.
"Flattening infection curves and the thoughts of more stimulus have lifted all boats," said Stephen Innes, chief global market strategist at AxiCorp. Much economic damage has already been done, with the IMF predicting the world this year would suffer its steepest downturn since the Great Depression of the 1930s.
"Even with a projected strong subsequent rebound, global profits are expected to stand 20per cent below their forecasted pre-pandemic level at the end of next year." That drop in yields combined with the vast amounts of cash being created by the Federal Reserve has been a drag on the U.S. dollar in recent sessions.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Coronavirus: South Asian communities celebrate new year at home amid outbreakSINGAPORE - Hindu families celebrating the Tamil New Year, or Puthandu, on Tuesday (April 14) should do so at home, said the Hindu Endowments Board (HEB) on Monday.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Money FM 89.3 Podcast: Investment guru Jim Rogers on Chinese wine companies and Asian aviation stocks. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Asia markets higher as China trade data beats forecastsAsian markets posted gains on Tuesday as better than expected Chinese trade data suggested a rebound from the economic devastation wrought by the ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Asia shares jump on Chinese trade data, pandemic still a worryAsian stocks were set for a modest bounce on Tuesday as U.S. stock futures edged higher, although fears the coronavirus could drag on the global ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Emirates to operate limited passenger services to US, Asia, North AfricaDubai's Emirates said on Monday it planned to operate limited passenger services to Algiers, Tunis, Jakarta, Manila, Taipei, Kabul and Chicago.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Asia: Markets down as oil rallies on output cuts deal[HONG KONG] Asia markets fell on Monday with investors cautious on news of an international deal to shore up oil prices and tentative signs of progress in efforts to combat the coronavirus pandemic. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »