SINGAPORE - Asian share markets were pinned down on Thursday, haunted by the rising U.S. coronavirus death toll, and with investors braced for more signs of economic pain in the world’s largest economy, ahead of another likely record week of jobless claims.
European futures inched higher, with EuroSTOXX 50 futures up 0.2% and DAX and FTSE futures making tiny gains. E-mini futures for the S&P 500 bounced 1.6% after the Wall St rout. “Everyone’s trying to figure out how much of the month-end moves last week were just a bear market rally, or real - it’s that dance,” said Kay Van-Petersen global macro strategist at Saxo Capital Markets in Singapore.
U.S. labour market data will likely provide the next test of market sentiment and of the visible pain in the real economy. U.S. President Donald Trump, who had initially played down the outbreak, told reporters at the White House on Wednesday that he is considering a plan to halt flights to coronavirus hot zones in the United States.
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