NEW YORK (Reuters) - Asian markets were set to follow a tumble in Wall Street stocks and oil prices on Thursday after surging U.S. coronavirus cases and the International Monetary Fund’s downgrade to global economic projections shook confidence in a recovery.
The International Monetary Fund slashed its economic forecasts once again on Wednesday and warned that public finances will deteriorate significantly as governments attempt to combat the fallout from the coronavirus crisis.
China is expected to post positive growth this year even as the global economy contracts 4.9 per cent in a coronavirus-driven plunge in output, the International Monetary Fund (IMF) said on Wednesday.
WASHINGTON (Reuters) -- The coronavirus pandemic is causing wider and deeper damage to economic activity than first thought, the International Monetary Fund said on Wednesday, prompting the institution to slash its 2020 global output forecasts further.
SYDNEY (Reuters) - Asian shares cleared a four-month high on Wednesday as investors remained stubbornly upbeat on the outlook for a re-opening of the global economy even as cases of the coronavirus looked to be accelerating to new peaks.
SINGAPORE (Reuters) - The dollar was under pressure on Wednesday, after upbeat data in Europe boosted the euro and helped stoke hopes for a global economic recovery, underpinning investor appetite for riskier currencies.