Shanghai stocks hit by $370 billion wipeout as virus fears pound Chinese markets
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 central bank’s reverse repo rate cut to alleviate economy shock: adviser
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.
Asian shares drop, commodities sink on virus fears after Lunar New Year break
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
Chinese markets tumble on coronavirus fears
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 central bank unexpectedly cuts reverse repo rates to help economy as virus spreads
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.
Exxon Baytown refinery union workers reject contract offer: sources
Union workers at Exxon Mobil Corp’s Baytown, Texas, refinery rejected a contract extension in voting completed on Friday, said sources familiar with the vote.
China January factory activity growth slows to five-month low: Caixin survey
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.
AirAsia shares plunge after Airbus bribery allegations
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.
China’s CATL signs battery supply agreement with Tesla
China’s top electric vehicle battery maker CATL said on Monday it has signed a battery supply agreement with Tesla .
Asian shares set for rough ride on virus fears, eyes on China
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.
