Asian markets are set for another bumpy ride on Monday on fears about the hit to world growth from the rapidly spreading coronavirus, with all eyes on China where trading resumes following the Lunar New Year break.
China's factory activity expanded at its slowest pace in five months in January, even as an outbreak of a new virus added to risks facing the world's second-largest economy, a private survey showed on Monday.
China's securities regulator has urged mutual fund managers not to sell shares unless they face investor redemptions, four sources told Reuters, as the country's stock markets plunged on Monday amid a growing virus outbreak.
Some Chinese technology firms are continuing to manufacture parts and products despite government calls across various cities and provinces for work to be halted as Being seeks to stop the spread of the coronavirus ravaging the country.
China's cut to its reverse repo rate should alleviate the shock to the real economy from a virus outbreak and is a good move to stabilize expectations and restore financial market confidence, a central bank adviser said on Monday.
Chinese stock and commodity markets fell heavily at the open on Monday, in the first trading session after an extended Lunar New Year break, as investors dumped risky assets in response to rising fears about the spread of a new virus across China.
China's central bank unexpectedly lowered the interest rates on reverse repurchase agreements by 10 basis points on Monday, as authorities stepped up measures to relieve pressure on the economy from a rapidly spreading virus outbreak.
Asian shares stumbled on Monday, oil skidded and commodities on Chinese exchanges plunged on their first trading day after a long break on fears the coronavirus epidemic will hit demand in the world's second-largest economy
Asian markets are set for another bumpy ride on Monday on fears about the hit to world growth from the rapidly spreading coronavirus, with all eyes on China where trading resumes following the Lunar New Year break.
China's top electric vehicle battery maker CATL said on Monday it has signed a battery supply agreement with Tesla .
Shares of Malaysia's AirAsia Group and unit AirAsia X fell on Monday, after allegations by Britain's Serious Fraud Office that Airbus paid a bribe of $50 million to win plane orders from Asia's largest budget airline group.
Credit Suisse , which has faced a scandal related to spying on senior executives, also conducted espionage against Greenpeace, Swiss newspaper SonntagsZeitung reported.
Malaysia's securities regulator said on Sunday it will examine whether AirAsia Group and unit AirAsia X broke securities laws, after UK prosecutors accused executives of receiving bribes from Airbus for buying planes.
As global investors shift away from heavy industry in favor of cleaner sectors, mining companies are losing billions in financing, raising the cost of capital and jeopardizing projects.
China's central bank said it will inject 1.2 trillion yuan ($173.8 billion) worth of liquidity into the markets via reverse repo operations on Monday, as the country prepares to reopen its stock markets amid a new coronavirus outbreak.