Asian shares suffer fresh spill as coronavirus damage deepens
Asian shares slid on Monday (March 30) as fears mounted that the global coronavirus shutdown could last for months although markets regained some lost ground late in the session with Australia posting a standout jump.
- US and European futures also turned upwards in the Asian afternoon.
- E-Mini futures for the S&P 500 up 1.1 per cent, again after earlier losses.
- EUROSTOXXX 50 futures rallying 2 per cent and FTSE futures 1.5 per cent.
- The MSCI Asia Pacific Index dipped 0.8%.
- The euro decreased 0.6% to $1.1078.The British pound dipped 0.7% to $1.2371.
- The Japanese yen fell 0.1% to 108.05 per dollar.
- The yield on 10-year Treasuries climbed less than one basis point to 0.68%.
- Germany’s 10-year yield decreased three basis points to -0.51%.
- Britain’s 10-year yield declined five basis points to 0.321%.
- Gold fell 0.6% to $1,618.89 an ounce.West Texas Intermediate crude decreased 4.6% to $20.52 a barrel.
- Oil prices were again under water as Saudi Arabia and Russia showed no signs of backing down in their price war even as global transport restrictions hammer demand.
- Brent crude futures lost US$1.46 to US$23.47 a barrel, while US crude fell 97 cents to US$20.54.