Economic news

Asian shares inch higher as threats of coronavirus recede Asian shares inched higher on Wednesday amid news of the receding threat of the coronavirus in China. However, uncertainty about the economic impact of the outbreak still kept investors cautious. MSCI’s broadest index of Asia-Pacific shares outside Japan moved up by 0.31%. Chinese shares fell 0.12%, […]

SEOUL- Oil prices advanced continuing its Tuesday’s well-ended performance on Wednesday. Such upbeat activity was mainly from signals that coronavirus cases are decelerating in China, relieving investors from demand concerns brought by the virus which originated from world’s second-largest oil importer. Brent crude LCOc1 increased by 73 cents, equivalent to 1.3%, standing at $54.75 a […]

The dollar and Yen, as well as US and Japanese bonds, gained as investors seek for safe havens amid coronavirus concerns. The World Health Organization said that cases of infected people who haven’t been to China might be the start of something bigger. Coronavirus death toll is already at 1,016 in mainland China. Meanwhile, the […]

The coronavirus outbreak in China could cut the country’s economic growth by 1% in 2020, said Zeng Gang, a Chinese government think tank senior member. The vice chair of the National Institute for Finance and Development cited the 2003 SARS epidemic where China’s growth dropped by 2%, in comparison to the Wuhan virus. “At present, […]

Safe-haven assets rise amid coronavirus concerns Gold prices rose while the USD/EUR currency pair reached a four month high on Monday as investors retreated to safe-haven assets amid China’s rising death toll from the coronavirus outbreak. Weak economic data in the Eurozone made the Greenback relatively more attractive to traders than the single currency. This […]

Apple’s iPhone maker Foxconn reopens China plants amid virus outbreak Apple Inc’s main iPhone maker Foxconn was given the signal to reopen two of its major plants in China despite the severe situation of the coronavirus outbreak in the country. According to sources, Apple Inc aims to resume production even though only 10% of its […]

California confirms a case of the nCoV, bringing it to a total of 13 cases in the United States. The person of interest is being held under Federal Quarantine at the U.S. Centers for Disease Control and Prevention (CDC), after return from Wuhan, China. The unnamed patient was also an evacuee from Wuhan, among the […]

SYDNEY- Asian share markets performed positively on Tuesday, following Wall Street upbeat activity.  However, concerns still lurk about China factories’ decision of reopening as the novel coronavirus contagion spreads in a larger scope and death record continues to grow. Mainland China’s coronavirus death toll hit more than 1000 cases and surpassed the 800 victims of […]

SINGAPORE- Oil prices clocked in more than 1% on Tuesday as previous declines urged short position investors to take profit. However, market sentiment dwindled due to novel coronavirus that is responsible for the death of more than 1,000 individuals in China. Brent crude LCOc1 inched up 1.5%, equivalent to 79 cents, and was quoted at […]

US stock futures slipped as the coronavirus outbreak in China reported a death toll higher than the SARS epidemic. Authorities prepare measures as millions return to work after the extended Lunar New Year holidays. Investors cautiously monitor virus concerns that has impacted global economy and pushed Wall Street lower. China reported 97 new additional deaths, […]