Fears of pandemic send stocks lower, safe havens in demand

  • 📰 Reuters
  • ⏱ Reading Time:
  • 33 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 97%

South Africa News News

South Africa South Africa Latest News,South Africa South Africa Headlines

Virus fears push Asian stocks to seven-week low, boost safe-haven assets

Oil prices, a barometer of the expected impact of the virus on the world’s economy, resumed their slide. Brent crude LCOc1 shed a percentage point and has dropped 10% since Jan 20.

“China is the kingpin of the global commodities market,” ING economists said in a note. “The longer factories remain closed, travel restricted and construction stalled, the larger the ramifications.”Most analysts have looked to the impact from the 2002-2003 spread of Severe Acute Respiratory Syndrome , which killed 800 people and pounded tourism and confidence, albeit briefly.

Citi expects China’s 2020 growth to slow to 5.5% because of the virus, after previously predicting it to be 5.8%, with the sharpest slowdown this quarter. That is even more bearish than J.P. Morgan and ING economists, who foresee a slowdown to 5.6.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Criminal behavior from AirChina coronavirus CoronavirusOutbreak They refuse to cancel their flights trough China while all other airlines have. Willfully putting the general population in danger and leaving customers distressed to fend for themselves. airchina AirChinaNA

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock Market Rebounds From Earlier Selloff, Even As Coronavirus Fears ContinueStocks appear to be making a comeback on Tuesday.
Source: Forbes - 🏆 394. / 53 Read more »

Virus anxiety weighs on Asian stocks, boosts safe-haven bidAsian stocks slipped while gold and bonds were in demand on Thursday as worries ... Late capitalism...when a deadly novel global pandemic is reported in context of its economic costs first...'the malls are empty, people aren't consuming...oh, and people are dying...so they can't consume (obey) either...' What about white people stocks? Did they go up or something? Oh I think I caught the Anxiety virus! Someone hook me up with some bars.
Source: Reuters - 🏆 2. / 97 Read more »

Hong Kong stocks pull Asian shares lower but futures offer hopeAsian shares fell on Wednesday as a spike in new Chinese virus cases sent Hong K... No.
Source: Reuters - 🏆 2. / 97 Read more »