SYDNEY (Reuters) – Asian markets started the week on the backfoot on Monday while oil prices slipped as worries of a 2nd wave of coronavirus infections in China sent financiers scooting for safe-havens.
SUBMIT PICTURE: A pedestrian wearing a face mask strolls near an overpass with an electronic board revealing stock info, following an outbreak of the coronavirus disease (COVID-19), at Lujiazui monetary district in Shanghai, China March 17,2020 REUTERS/Aly Tune
MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.25%with Australian shares off 0.4%and South Korea slipping 0.6%. Japan’s Nikkei fell 0.75%.
The losses follow a strong rally in global equities since late March, fuelled by reserve bank and financial stimulus and optimism as countries slowly lifted limitations put in location to suppress the spread of the novel coronavirus.
However, danger belief took a knock after Beijing tape-recorded dozens of new COVID-19 cases in recent days, all connected to a major wholes