No matching items found
SHOWING 16 Results
The euro retreated from near two-month highs and equity markets wavered on Wednesday even as the EU unveiled a 750b euro ($823 billion) recovery fund that helped offset concerns about unrest in Hong Kong over Beijing’s proposed security laws.
Global shares rallied on Friday, hitting weekly highs, on signs of improving Sino-American relations and the prospect of more governments gradually reopening their economies.
A string of positive indicators from China to the US in recent weeks — as well hopes for a vaccine and the easing of lockdowns around the world — has added fuel to a global rally that has lifted equities out of the March depths.
While several countries are suffering a fresh surge in infections — particularly the United States — the ongoing easing of lockdown measures and reopening of economies has been the key driver of a months-long surge across equities.
The new coronavirus epidemic poses a “serious threat” and will slow growth in the world economy to below the 2.9 per cent posted last year, IMF chief Kristalina Georgieva said on Wednesday.
Global markets showed more signs of stabilisation on Wednesday as investors looked past China’s coronavirus outbreak and moved back into shares from safe-haven assets
More than 570 people have been infected with the coronavirus across China and Wuhan, the city at the centre of the outbreak, has been placed under effective quarantine.
Most European and US markets followed Asia lower after Hong Kong slumped 2.8 per cent by the close and Shanghai ended with a loss of 1.4 per cent.
Europe's STOXX 600 rose in early trading, up 0.1% at 0843 GMT, Germany's DAX was up 0.4%, but London's FTSE 100 was down 0.7%.
Pakistan's federal and provincial governments have unanimously decided to shut markets by 8 p.m. across the country as part of the efforts to conserve energy, Planning Minister Ahsan Iqbal said.