|Day's range||19,011.59 - 19,336.19|
|52-week range||16,358.19 - 24,115.95|
The streets of Tokyo are going quiet as residents bet it could be the next big city to face a lockdown. Such scenes are now familiar worldwide, and they're making investors increasingly fearful. Stock markets all round Asia sank again Monday (March 30) on concern the global economy could face a prolonged shutdown. Japan's Nikkei index was worst hit, closing down over 1.5%. The gloom then spread into the European open. Major indexes there were all down in early trade, with France's Cac-40 leading the way lower. It was off over 3% in the first hour before recovering some ground. Shares in banks including BNP Paribas and ING took a hammering, down 8% or more. They're among lenders to heed calls from the ECB to suspend dividend payments. The central bank wants them to hold onto what cash they can. Oil stocks also down again after crude prices took a fresh tumble. International benchmark Brent was down as much as 8% early Monday, to around 23 dollars a barrel. It was about three times that price when the year began.
Asian stock markets found reasons to be positive on Tuesday (March 24). Japan's Nikkei index closed just over 7% higher - its biggest one-day gain since February 2016. South Korea's ravaged Kospi index did even better, closing 8.6% up. That was its biggest daily gain in 12 years. The rebound was driven by hopes of more massive global stimulus measures. On Monday (March 23) the U.S. Federal Reserve pledged an unlimited supply of dollars for markets. Now investors hope the Bank of Japan will do something similar. South Korea's doubling of existing stimulus measures also helped. The hopeful mood carried over into the European open. Major indexes there were all up 3-4% in early trade, with Germany's Dax the strongest performer. TeamViewer was among the big gainers there, rising as much as 10%. Some traders see the connectivity firm as a likely beneficiary of the home working trend. Such gains for European stocks came even as new data showed an economic plunge. The latest euro zone Purchasing Managers' Index plummeted to a record low 31.4 - way below the 50-point level that signifies economic expansion. On currency markets the prospect of a flood of dollars saw the U.S. currency ease back from recent highs.
Global financial markets took another hammering on Monday (March 23) as a wave of national coronavirus lockdowns kicked in. The rising death toll from the pandemic threatens to overwhelm policymakers' frantic efforts to cushion what is likely to be a deep global recession. European stocks dropped over 4.5% as they reopened stuck near seven-year lows Calls continued for the euro zone's 19 governments to issue the bloc's first joint bonds in a bid to get the region through the economic crush of the virus lockdowns. Commodity markets saw heavy selling as the global death toll from the virus passed 14,000. Investors tried to take cover in ultra-safe government bonds and in the Japanese yen in currency markets But with so much uncertainty about when any semblance of normality might return there were few places to really hide. In Asian trade, MSCI's broadest index of Asia-Pacific shares outside Japan lost 5.4%, New Zealand's market shed a record 10% as the government closed all non-essential businesses. Japan's Nikkei rose 2.0% though on expectations of more aggressive asset buying by the Bank of Japan. Globally, analysts are dreading data on weekly U.S. jobless claims due on Thursday forecasts suggest they could balloon by more than a million. U.S. stocks have fallen more than 30% from their mid-February peak
Asian shares managed a tentative rally on Tuesday as factory data from China held out the hope of a rebound in activity even as other countries across the globe all but shut down. E-Mini futures for the S&P 500 added another 0.6%, supported by talk of book-keeping demand.
RIYADH/WASHINGTON (Reuters) - Trade ministers from the Group of 20 major economies agreed on Monday to keep their markets open and ensure the continued flow of vital medical supplies, equipment and other essential goods as the world battles the deadly coronavirus pandemic. G20 leaders pledged last week to inject over $5 trillion into the global economy to limit job and income losses from the coronavirus outbreak, while working to ease supply disruptions caused by border closures by national governments anxious to limit transmission of the virus. In a joint statement issued after a videoconference, the trade ministers pledged to take "immediate necessary measures" to facilitate trade, incentivize additional production of equipment and drugs, and minimize supply chain disruptions.
Global equity benchmarks rose on Monday despite a drop in oil prices to their lowest levels since 2002, as central banks and the United States tried to contain damage from the rapidly spreading coronavirus that has upended the global economy. U.S. President Donald Trump on Sunday extended the government's stay-at-home guidelines until the end of April, dropping a sharply criticized plan to get the economy up and running by mid-April after a top medical adviser said more than 100,000 Americans could die from the outbreak. As a result, central banks have mounted an all-out effort to bolster activity with interest rate cuts and massive asset-buying campaigns, which have at least eased liquidity strains in markets.
European stocks fell on Friday, halting their biggest ever three-day rally in a sign investors were focusing once more on the spread of the coronavirus pandemic despite hopes for further stimulus measures to combat its economic impact. The pan-European STOXX 600 index was down almost 3.6% by midday in London. Stock markets have rallied over the past week on the back of trillions of dollars of enacted and pledged economic stimulus by policymakers worldwide, from central banks to governments.
Stocks across the globe fell on Friday after a historic three-day run-up, as skittish investors kept indices on track for their worst monthly and quarterly performances since 2008, while the dollar fell by the most in any week since 2009. Shares on Wall Street ended near Friday's lows and the dollar fell further after the U.S. House of Representatives, as expected, approved a $2.2 trillion stimulus package, the largest in U.S. history. After the markets closed, President Donald Trump signed the bill into law.
A Wall Street rally led global gains in stocks on Thursday despite a record number of new unemployment filings in the United States, as traders focused on the unanimous passage of a $2 trillion coronavirus relief bill in the U.S. Senate and the possibility of more stimuli to come. "In less than two weeks, we have moved from full employment to a number of job destruction we have never experienced in a period of peace," wrote Christopher Dembik, head of macro analysis at Saxo Bank. Earlier on Thursday, Federal Reserve Chair Jerome Powell said the U.S. economy is likely in recession already but that reopening businesses should be dictated by the control of the virus' spread, in contrast to the urging by some of President Donald Trump’s advisers for a faster reopening.
Japan's government is considering a fiscal stimulus package worth roughly 10% of annual economic output to combat the impact of the coronavirus outbreak, the Nikkei newspaper said on Wednesday. The package, worth more than 56 trillion yen (421 billion pounds), will include cash payouts to households who have seen their income fall due to the epidemic, the paper said without citing sources. Cash payouts may start as early as in May, with the government considering offering each eligible household up to 300,000 yen, the Nikkei said.
“The fiscal stimulus coupled with the extraordinary moves by the Federal Reserve in recent weeks are showing investors the government is willing to step in to do whatever [it takes] to respond to this economic chasm we are likely to have,” said George Maris, co-head of equities at Janus Henderson Investors — but the focus will soon shift to dislocations in the labour market. Goldman Sachs economists said investors should brace for an “unprecedented surge in layoffs”, with tomorrow’s jobless claims covering the week of March 15-21 set to rise to roughly 2.25m.
Global stock markets rallied sharply on Tuesday, buoyed by this week’s efforts by the US Federal Reserve to support the economy and as Congress closed in on an agreement for a fiscal stimulus to alleviate the effects of the coronavirus. The US benchmark S&P 500 was up more than 6 per cent per cent in New York. European bourses also jumped, with the continent’s Stoxx 600 index up 7.5 per cent. London’s FTSE 100 rose 9 per cent, while Frankfurt’s Dax gained 11 per cent.
Japan's economic stimulus package to mitigate the fallout from the coronavirus outbreak should include cash payouts and other measures that give a direct boost to consumption, a senior ruling party official said on Tuesday. Hiroshige Seko, a senior official of Japan's ruling Liberal Democratic Party (LDP), also told reporters that a supplementary budget must be compiled in time to fund necessary steps before Japan's Golden Week holidays in early May.
Shares opened sharply higher in Asia on Wednesday after the Dow Jones Industrial Average surged to its best day since 1933 with Congress and the White House nearing a deal on injecting nearly $2 trillion of aid into an economy ravaged by the coronavirus. Japan's Nikkei 225 index jumped 5.3%, while Hong Kong added 3% and Sydney climbed 3.6%. Markets across Asia were all up more than 2%.
Asian stocks rallied on Tuesday as the U.S. Federal Reserve's sweeping pledge to spend whatever it took to stabilise the financial system eased debt market pressures, even if it could not offset the immediate economic hit of the coronavirus. While Wall Street seemed unimpressed, investors in Asia were encouraged enough to lift E-Mini futures for the S&P 500 by 1.9% and Japan's Nikkei by 4.9%. MSCI's broadest index of Asia-Pacific shares outside Japan added 1.2%, though that followed a drop of almost 6% on Monday.
Japan's government is expected to offer its bleakest economic assessment in nearly seven years in March as the coronavirus outbreak cools private consumption and business sentiment, the Nikkei newspaper reported on Tuesday. In its monthly report for March, the government will drop language describing the economy as "recovering" for the first time in six years and nine months, the paper said, without citing sources. Sources have told Reuters the government is expected to cut its assessment of the economy in March, though officials were divided on whether to remove the language "recovering" in the assessment.
U.S. futures dropped more than 4% and Australia's share benchmark initially plunged 8.5% as work on more stimulus for the U.S. economy hit snags in the U.S. Senate. Shares dropped more than 4% in Hong Kong and 5% in South Korea. Top-level negotiations between U.S. Congress and the White House continued after the Senate voted against advancing the $2 trillion economic rescue package.
NEW YORK/LONDON (Reuters) - Financial markets rebounded sharply on Tuesday, with a measure of global equities headed for its biggest bounce since the crisis erupted a month ago, while the safe-haven dollar recoiled as investors welcomed unprecedented global stimulus efforts. While the U.S. Federal Reserve's offer of unlimited bond-buying was not expected to mitigate on its own the devastating impact of the coronavirus, investors hoped it would help avert a global depression with the help of other rescue packages. The Fed's action had failed to persuade Wall Street on Monday, with losses of 2%-3% on major indexes.
Global equities slid further and safe-haven assets rose on Monday after a massive array of new programs from the U.S. Federal Reserve underscored the "severe" disruptions the coronavirus pandemic poses to a fast-weakening world economy. Traditional safe-havens such as gold, U.S. Treasury and German debt rose while industrial metals fell as the outlook for global growth grew dimmer. The Fed for the first time will back purchases of corporate bonds, backstop direct loans to companies and "soon" will roll out a program to get credit to small and medium-sized business as it intervenes beyond the financial markets.
Wall Street retreated on Friday after New York ordered residents to stay home, rattling investors who had welcomed this week's fiscal and monetary measures to counter the coronavirus shock and help revive the safe-haven appeal of bonds and gold. The policy efforts helped staunch the steep nosedive in global equity markets. Stocks had gained on Thursday in less-tumultuous trade and were trading higher on Wall Street before New York Governor Andrew Cuomo said he would mandate all non-essential workers to stay home and all non-essential businesses close.
Asian shares staged a rare rally on Friday as Wall Street eked out gains, bonds rallied and oil boasted its biggest bounce on record, though the panicked rush into U.S. dollars suggested the crisis was far from done. MSCI's broadest index of Asia-Pacific shares outside Japan rose 3.2%, after seven sessions of losses. The U.S. Senate was debating a $1 trillion (862.66 billion pounds)-plus package that would include direct financial help for Americans, relief for small businesses and steps to stabilise the economy.