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Asia stocks sink deeper as central banks go into crisis mode

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Smaller bourses in SE Asia were again hammered, with Manila, Bangkok posting declines of over 5% FMTNews Thailand China StockMarket Philippines CentralBanks

HONG KONG: A fresh wave of urgent policy coordination by global central banks has failed to restore stock investors’ confidence in Asia.

Futures on the S&P 500 Index hit trading limits once again, indicating a volatile week ahead for US equities following a surge on Friday. Smaller bourses in Southeast Asia were again hammered, with gauges in Thailand and Philippines posting more than 5% declines.Monday’s plunge has again highlighted investors’ fragile confidence over a series of urgent central bank actions.

In the latest coronavirus outbreak developments, cases of infection have topped 166,000 worldwide, while deaths exceed 6,400.

 

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