Asia shares follow S&P 500 higher, oil and gold jump
Asian shares were led higher by S&P 500 futures on Monday and oil prices hit a five-week peak as countries’ efforts to re-open their economies stirred hopes the world was nearer to emerging from recession.
Japan slips into recession, slump set to worsen as pandemic wreaks havoc
Japan’s economy slipped into recession for the first time in 4-1/2 years, putting the nation on course for its deepest postwar slump as the coronavirus crisis ravages businesses and consumers.
Japan’s economy to slump significantly due to pandemic: economy minister
Japan’s economy is expected to slump significantly due to sluggish overseas demand blamed on the coronavirus pandemic, Economy Minister Yasutoshi Nishimura said on Monday.
Oil prices jump more than $1 ahead of WTI June contract expiry
Oil prices climbed by more than $1 a barrel on Monday to their highest in more than a month, supported by ongoing output cuts and signs of gradual recovery in fuel demand as more countries ease curbs imposed to stop the coronavirus pandemic spreading.
SK Hynix shares fall on demand worries after U.S. curbs on Huawei chip supply
Shares of South Korea’s SK Hynix , the world’s No.2 memory chip maker and supplier to Huawei [HWT.UL], fell as much as 3.3% early on Monday after a U.S. move to curb semiconductor supplies to the Chinese company stoked fears about a demand hit.
GM instructs Mexican suppliers to prepare to resume operations
The president of General Motors Co’s Mexican unit advised suppliers to prepare to resume operations after the Mexican government said the automotive industry could exit the coronavirus lockdown before June 1 with adequate safety measures.
SoftBank proposes three new board members as Alibaba’s Jack Ma resigns
SoftBank Group Corp said on Monday that Alibaba co-founder Jack Ma will resign from its board, in the latest departure by a high-profile ally of CEO Masayoshi Son.
Senator Rubio calls for fast action to extend U.S. payroll protection program
The United States needs to quickly revise its coronavirus aid program for small businesses to extend the eight-week period in which the law currently requires companies to spend the money, a key U.S. senator said on Sunday.
BGH, Bain, Indigo Partners, Cyrus Capital make Virgin Australia shortlist: source
Virgin Australia Holdings Ltd’s administrators have short-listed potential buyers BGH Capital, Bain Capital, Indigo Partners and Cyrus Capital Partners, a source with knowledge of the matter said on Monday.
Asia shares make cautious gains, oil and gold jump
Asian shares crept ahead on Monday and oil prices hit a five-week high as more countries re-opened their economies, stirring hopes the world was nearer to emerging from recession.
