Regional markets: Asia shares turn quietly cautious

Japan reported its exports fell almost 12% in March from a year earlier, with shipments to the US down over 16%


Reuters April 21, 2020
Asian markets. PHOTO: REUTERS

SYDNEY: Caution gripped Asian share markets on Monday on expectations a busy week of corporate earnings reports and economic data will drive home the damage done by the global virus lockdown, while a glut of supply sent US crude spiralling to 20-year lows.

Japan reported its exports fell almost 12% in March from a year earlier, with shipments to the United States down over 16%.

Early readings on April manufacturing globally are due on Thursday and are expected to show recession-like data. MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.2% in slow trade, with a pause needed after five straight weeks of gains. Japan’s Nikkei fell 0.9% and Shanghai blue chips 2.4% even as China cut benchmark interest rates, as widely expected. E-Mini futures for the S&P 500 slipped 0.2%, having jumped last week on hopes some US states would soon start to re-open their economies. US President Donald Trump said that Republicans were close to getting a deal with Democrats.

Published in The Express Tribune, April 21st, 2020.

Like Business on Facebook, follow @TribuneBiz on Twitter to stay informed and join in the conversation.

COMMENTS

Replying to X

Comments are moderated and generally will be posted if they are on-topic and not abusive.

For more information, please see our Comments FAQ

E-Publications

Most Read