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SYDNEY: Asian shares were looking to rally for a fourth straight session on Thursday as U.S. markets swung sharply higher and another dose of central bank stimulus offered some salve for the global economic outlook.
TOKYO: Japan’s services sector shrank at the fastest pace in nearly six years in February as a jolt from the coronavirus threatens to push the economy into recession, dashing hopes of a domestic-led recovery.
BEIJING: China’s services sector had its worst month on record in February as new orders plummeted to their lowest level since the global financial crisis, a business survey showed, with economists urging swift support to avoid mass bankruptcies.
PETALING JAYA: Malaysia’s imports and exports are expected to have contracted by 6.6% and 5.1% respectively in January, resulting in a RM12.bil trade surplus for the month, said RAM Ratings.
JAKARTA (Bloomberg): Indonesia is working on a second stimulus package to shore up Southeast Asia’s biggest economy, adding to the central bank’s aggressive moves to counter the impact of the coronavirus on financial markets.
Singapore: Asia’s factories took a tumble in February under the weight of the rapidly spreading coronavirus outbreak, with a severe plunge in activity in China driving down output across the region.
SINGAPORE: Expectations the Opec+ alliance will deepen output cuts put a floor under last week’s 16% plunge in oil prices, with futures in New York rebounding even as the coronavirus continued to spread rapidly.
LAUNCESTON (Australia): There’s no way to sugar-coat the worst-ever reading of China’s manufacturing indexes, which were pummelled as the economy was largely shut down in February as Beijing battled to contain the coronavirus epidemic.