Asia shares try to stabilise, pin hopes on policy stimulus
Asian shares bounced and bond yields rose from historic lows on Tuesday as speculation of coordinated stimulus from global central banks and governments calmed panic selling.
Asian shares bounced and bond yields rose from historic lows on Tuesday as speculation of coordinated stimulus from global central banks and governments calmed panic selling.
Heineken NV will invest 865 million reais ($183.14 million) to expand its Ponta Grossa brewing plant in Brazil, the company said on Monday, as competition between the world's two largest beer makers bubbles up.
New Zealand's Commerce Commission said on Wednesday that it has issued a warning to HSBC Holdings Plc over its failure to comply with the information disclosure requirements.
The Trump administration on Monday accused "state actors" of touching off an historic slump in global oil prices, and urged Russia's ambassador to the United States to consider the importance of calming the markets.
Asian markets skidded again on Tuesday after Wall Street suffered its biggest one-day loss since the 2008 financial crisis, but the selling was restrained by hopes for coordinated policy action to quell the panic.
Oil prices rose by more than $1 on Tuesday after a price war by top producers Saudi Arabia and Russia sparked the biggest daily rout since the 1991 Gulf War, but investors saw little chance of a quick price recovery as the coronavirus cuts demand.
Twitter Inc on Monday reached an agreement with Elliott Management that lets Jack Dorsey stay as chief executive and adds three new directors a few days after Elliott's plan to push out the social media company's chief became public.
Trading in options on Wall Street's fear gauge was impossible in the first minutes of Monday's session due to an absence of prices from the market makers on whom trading depends, a representative of index operator CBOE Global Markets Inc said.
Asian markets were set for a fraught session on Tuesday after Wall Street suffered its biggest one-day loss since the 2008 financial crisis, piling pressure on policy makers globally to short-circuit the panic.
Fears about the rapidly spreading coronavirus and its impact on the global economy, which deepened on Monday with the collapse of oil prices, have evaporated over $5 trillion of the S&P 500's market value in recent weeks.
A U.S. regulatory body on Monday said it would temporarily waive some of its rules in order to allow thousands of traders to operate from home as the coronavirus spreads in New York.
While no U.S. airlines have requested a bailout to date, the head of Hawaiian Airline said on Monday that it was difficult to predict what would happen in the weeks and months ahead for the industry as travelers cancel flights amid coronavirus uncertainty.
The United States on Monday accused "state actors" for manipulating global oil markets, saying their actions contributed to a big drop in oil prices but adding that American energy suppliers were well placed to withstand the volatility.
"I feel better about the banks than I do any oil company," CNBC's Jim Cramer said Monday.
Aon Plc said on Monday it would buy Willis Towers Watson Plc for nearly $30 billion, in an all-stock deal which will make it the world's biggest insurance broker and give it more pricing power, but also attract regulatory scrutiny.