SYDNEY (Reuters) – Caution grasped Asian share markets on Monday on expectations a hectic week of business earnings reports and economic information will drive home the damage done by the international virus lockdown, while an excess of supply sent U.S. unrefined spiraling to 20- year lows.
FILE PHOTO: Passersby wearing protective face masks following an outbreak of the coronavirus illness (COVID-19) are reflected on a screen displaying stock costs outside a brokerage in Tokyo, Japan, March 17,2020 REUTERS/Issei Kato
Japan reported its exports fell nearly 12%in March from a year earlier, with shipments to the United States down over 16%. Early readings on April producing worldwide are due on Thursday and are anticipated to show recession-like readings.
MSCI’s broadest index of Asia-Pacific shares outside Japan.MIAPJ0000 PUS eased 0.2%in slow trade, with a pause needed after five straight weeks of gains. Japan’s Nikkei N225 fell 0.9%and Shanghai blue chips CSI300 2.4%even as China cut benchmark rate of interest as widely expected.
E-Mini futures for the S&P 500 ESc1 slipped 0.2%, having leapt recently on hopes some U.S. states would quickly start to re-open their economies.
U.S. President Donald Trump stated Sunday that Republica