Global markets showed further signs of stabilization on Wednesday as investors l...
LONDON - Global markets showed further signs of stabilization on Wednesday as investors looked past a rising death toll from China’s coronavirus outbreak to tiptoe back into shares and out of safe-haven assets such as the yen and German bonds.
While mainland Chinese markets remain closed, Chinese equity futures traded in Singapore rebounded from two days of losses to rise 1.79%, the biggest gain in almost seven weeks. Risk aversion has not completely lifted, however; with the number of coronavirus fatalities now at 132 and 6,000 cases reported worldwide, there are fears the outbreak could inflict serious damage on Chinese growth, already at three-decade lows.
On currency markets, the offshore-traded yuan was little changed at 6.9620 per dollar but held off a one-month low hit earlier this week. Australia’s currency, considered a China proxy because of trade and investment links was also flat just off three-month lows. But speculation has risen it could be shaken off autopilot by the virus, with money markets predicting one 25 basis-point rate cut this year and a small chance of a second.
Treasury 10-year yields were around 1.63%, off three-month lows around 1.57% hit on Tuesday while German Bund yields also inched higher.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China virus outbreak rams global tourism, costing billionsWith tens of millions of Chinese ordered to stay put and many others opting to avoid travel as the new coronavirus spreads, tourism around the globe is taking a heavy hit during one of the biggest travel seasons, the Lunar New Year.
Read more »
Global Stocks Slide on Coronavirus FearsStocks and crude oil tumbled as the detection of the coronavirus in new patients in the U.S., Australia and France led to escalating concerns about the containment and potential economic impact of the dangerous outbreak.
Read more »
Global Stocks Plummet As Coronavirus Continues To SpreadStock markets moved sharply lower today amid rising concern over the economic impact of the rapidly spreading coronavirus by skleb1234
Read more »
TikTok inks a global licensing deal with music agency Merlin - Business InsiderTikTok has faced copyright issues in the past, and signing deals with major labels like Merlin will help it avoid regulatory and public relations scrutiny going forward:
Read more »
Virus fears ripple through global markets as selloff continuesThe Wuhan coronavirus is continuing to cause pain for investors. Markets in South Korea and Japan fell on Tuesday, continuing a global selloff as the virus sickens people around the world. Markets in Shanghai and Hong Kong remain closed for the holiday.
Read more »