Oil prices skidded on Monday after Saudi-Russian negotiations to cut output were delayed, keeping oversupply concerns alive, while stocks jumped as investors were encouraged by a slowdown in coronavirus-related deaths and new cases.
Equity investors, however, took solace as the death toll from the coronavirus slowed across major European nations including France and Italy. That sent MSCI's broadest index of Asian shares outside of Japan up almost 1per cent, on track for its best performance in a week.Worryingly, the number of new coronavirus cases jumped in China on Sunday while the number of asymptomatic cases surged too as Beijing continued to struggle to extinguish the outbreak despite drastic containment efforts.
Strickland, however, noted many in China were still subject to social distancing and isolation restrictions to prevent a resurgence in infections.