SINGAPORE (Reuters) - Oil prices pared losses after earlier hitting multi-year lows on Monday as hopes that a bigger than expected production cut from OPEC and stimulus from central banks could offset economic gloom from the coronavirus outbreak.
SINGAPORE (Reuters) - Asian shares steadied from early losses on Monday as investors placed their hopes on a coordinated global monetary policy response to weather the damaging economic impact of the coronavirus epidemic.
Major markets in Asia attempted to bounce back in Monday morning trade after sharp losses last week, even though Chinese manufacturing data released over the weekend and on Monday came in much worse than expected.
SINGAPORE (Reuters) - Stock futures plummeted on Monday as investors were rattled by weekend data from China that showed its fastest ever contraction in factory activity, raising fears of a global recession from the coronavirus.
Major markets in Asia mostly declined in Monday morning trade as official Chinese manufacturing data released over the weekend came in much worse than expected.
China's official Manufacturing Purchasing Managers' Index for February tumbled down to 35.7 points, the lowest on record and well beneath 45 expected. Any score below 50 represents contraction. The figure stood at 50 in January. The coronavirus outbreak paralyzed many factories in the Hubei province and beyond.