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Asian stocks set for worst month in 11-1/2 yrs on coronavirus jitters

Published 03/31/2020, 07:17 PM
Updated 03/31/2020, 07:20 PM
PSI
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MIWD00000PUS
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MIAP00000PUS
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VNI
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March 31 (Reuters) - Asian stocks fell sharply in March and
were on track to post their biggest monthly drop since October
2008 on fears that corporate earnings could be hit due to
lockdowns enforced by several nations to contain the spread of
the coronavirus.
The MSCI's broadest index of Asia-Pacific shares
.MIAP00000PUS has fallen over 12% this month, compared with a
decline of about 13% in the MSCI's global share index.
.MIWD00000PUS .
More than 777,000 people have been infected by the novel
coronavirus across the world and 37,561 have died, since the
first cases were identified in China in December
2019. Interactive graphic tracking global spread of coronavirus:
open https://tmsnrt.rs/3aIRuz7 in an external browser.
The pandemic has already driven the global economy into
recession and countries must respond with "very massive"
spending to avoid a cascade of bankruptcies and emerging market
debt defaults, the head of the International Monetary Fund
warned last week. the first quarter, Asian shares .MIAP00000PUS have
plunged over 20% and are set to record the biggest quarterly
decline since September 2008. Global shares .MIWD00000PUS ,
meanwhile, are down about 21%.
Philippines .PSI and Vietnam .VNI shares, with over 30%
drop this quarter, have led the quarterly declines in the
region.
Central banks around the world have slashed interest rates
in the past few weeks to try to help alleviate the threat to
markets and the world economy from the pandemic. Asia-Pacific and World indexes' monthly performance https://reut.rs/33XLE9R
MSCI Asia and World Indexes' quarterly performance https://reut.rs/2JsHAoI
Asia-Pacific equities performance in the current quarter and
month https://reut.rs/33V7Gu4
Asia-Pacific equities performance in 2020 https://reut.rs/2WZRm9R


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