Economic news

Home prices in China resumed its growth after stalling in February due to the pandemic. The resurgence implies pent-up demand as the effects of the outbreak steadily eased on property markets. China has recently lifted curfews and lockdowns as authorities slowly brought the COVID-19 pandemic under control. Average new home prices in 70 of China’s […]

Gold prices rose in Asian markets on Thursday as investors continued to assess the economic damage caused by the COVID-19 pandemic. Gold futures gained 0.33% to $1,745.70 per ounce at 9:37 PM ET (2:37 AM GMT) as the precious metal attempted to reclaim its losses from the previous session. Companies reported gloomy numbers while the […]

The novel coronavirus pandemic threatens the economic growth of Asia and is likely to halt the economy for the first time in six decades. The International Monetary Fund rendered the forecast on Thursday as the global contagion continues to inflict disruptions in the services and export sectors. The IMF released figures indicating that while Asia […]

Global shares declined on Thursday while bonds and the dollar advanced. Stock markets’ underperformance was mainly from weak U.S. retail sales, inactivity in factory production, and a dire outlook for Asian economy. MSCI’s broadest index of Asia-Pacific shares outside Japan shed 2.2%, as a Reuters survey showed that majority of investors are not satisfied with […]

The U.S. opposition wanted to stop the International Monetary Fund from using its strong tools to support other countries in fighting coronavirus on Wednesday. IMF proposed to create a new portion of Special Drawing Rights. The national bank will print new money, which was suggested by financial specialists and non-profit groups, to give as much […]

Gold prices fell on Wednesday in Asian markets as its virus-led volatility drove investor risk sentiment towards other assets. The International Monetary Fund (IMF) stated that the pandemic may lead the global economy to decline by 3% this year, marking it as the biggest drop since the Great Depression.   Gold Futures previously gained nearly […]

The dollar rose against Asian currencies on Wednesday after the U.S. Federal Reserve announced a new lending program. However, the dollar faced strong headwinds following the release of U.S. retail sales and industry data which revealed the economic damage caused by the pandemic.   U.S. President Donald Trump announced on Tuesday night that he was aiming […]

Japan’s Prime Minister Shinzo Abe faces financial pressure from his political partners on Wednesday. The prime minister was expected to disburse more cash to people to lessen financial crisis amid the virus outbreak. The government will distribute $1 trillion worth of stimulus package including cash payouts of 300,000 yen. This is only available for families […]

South Korea’s crude imports in March dropped 2.1% year-on-year, dragged down by weak demand amid the coronavirus pandemic. The world’s fifth-largest crude importer purchased 11.30 million tonnes of crude oil in March, equivalent to 2.67 million bpd. Crude imports a year earlier amounted to 11.54 million bpd. South Korea’s decline in imports came after oil […]

Oil prices were up on Wednesday as investors went on a bargain spree after the last session’s decline and on hopes that countries will fill their strategic reserves. However, threats of a global recession and oversupply prevented further gains. Brent futures rose 1.3%, or 38 cents, at $29.98 per barrel. U.S. West Texas Intermediate crude […]