HONG KONG, May 7 — Asian markets dropped today as the economic reality of the coronavirus crisis became even starker, and China-US relations soured, overshadowing recent optimism over the easing of lockdown measures. With countries from Asia-Pacific to Europe and US states reopening their...
A man wears a protective mask as he walks past a panel displaying the Hang Seng Index during morning trading, following the outbreak of the new coronavirus, in Hong Kong March 13, 2020. — Reuters pic
But a slew of monumentally bad data has highlighted the struggle governments face is reigniting economies, with hundreds of millions of people left jobless and countless companies going under or on the brink. “Sentiment appears to be shifting lower as the scope of shutdowns and travel restrictions are giving rise to economic uncertainty, which is gradually retaking hold, even more so ahead of what’s bound to be a dreary report on Friday,” said AxiCorp’s Stephen Innes.Tokyo, which was returning after an extended holiday weekend, ended the morning 0.2 per cent lower, Hong Kong slipped 0.8 per cent and Shanghai eased 0.3 per cent.
China has hit back, saying the White House is telling lies for domestic purposes, and the row has fanned worries the economic superpowers will renew their trade war that hammered global markets last year., citing officials in Washington, reported that Trump is looking into stepping up sanctions on China with curbs on supply chains and investment flows.
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