(Reuters) - Asian equities were set to slump on Thursday after the head of the Federal Reserve warned of a “significantly worse” U.S. recession than any downturn since World War Two because of coronavirus pandemic fallout, sentiments that drove bonds higher on a safety bid.

TOKYO (Reuters) - The dollar held onto gains against major currencies on Thursday after U.S. Federal Reserve Chairman Jerome Powell dismissed speculation that policymakers will adopt negative interest rates.

SEOUL (Reuters) - Oil prices crept up on Thursday, supported by a surprise decline of U.S. crude inventories, but gains were capped by worries that a potential second wave of the coronavirus pandemic might trigger fresh lockdowns and slam fuel demand once again.

KUALA LUMPUR (May 13): Malaysia's economic growth slowed to 0.7% in the first quarter of this year (1Q 2020) — the lowest level seen since 3Q 2009 when the economy then contracted by 1.1%, according to the Department of Statistics Malaysia.

A rerun of the oil market plunge that took the New York Mercantile Exchange’s now expired May crude contract into negative price territory on the eve of its expiration last month can’t be ruled out, the Commodity Futures Trading Commission warned Wednesday, urging the futures industry to be prepared.

Oil prices settled with a loss on Wednesday, failing to find support even after U.S. government data showed an unexpected weekly decline in domestic crude supplies, along with a fall in stocks at a key storage hub in Cushing, Okla.