Asian stocks steadied on Wednesday on hopes of additional Chinese stimulus to lessen the economic impact of a coronavirus outbreak, but risks remain as the illness continues to spread and the death toll neared 500.
The Trump administration is planning to meet later this month to discuss efforts to further limit exports to China and its flagship telecoms company Huawei, as it seeks to keep state-of-the-art U.S. technology out of the hands of adversaries, two sources familiar with the matter said.
Investors sent Ford Motor Co shares skidding on Tuesday after the company delivered a weaker-than-expected 2020 forecast, warning of higher warranty costs, lower profits at its credit arm and continued investments in future technology such as self-driving cars.
American Airlines Group and United Airlines on Tuesday both said they are suspending all flights to and from Hong Kong.
Oil prices rose on Wednesday, reversing out of a 1% slump in the previous session, boosted by producers weighing further output cuts to counter a potential squeeze on global oil demand resulting from China's fast-spreading coronavirus.
Intercontinental Exchange Inc (ICE), the owner of the New York Stock Exchange, said on Tuesday it had approached e-commerce company eBay Inc to explore "a range of potential opportunities".
Asian stocks steadied on Wednesday as Chinese stocks nudged higher on hopes of additional stimulus to lessen the economic impact of a coronavirus outbreak, but risks remain as the illness continues to spread and the death toll neared 500.
Lawyers for Credit Suisse last week re-interviewed a former bank executive who said the Swiss lender had her followed in New York, according to a person familiar with the matter, weeks after the company dismissed her allegation as baseless.
The Trump administration plans to meet this month to discuss further curbing exports to China and its flagship telecoms company Huawei, two sources said, in a bid to resolve differences within the government over the possible crackdown.
Japanese trading house Marubeni Corp sees limited direct impact on its businesses from the coronavirus in China, but its spread may weigh on the global economy, commodities and the company's earnings if it lasts a long time, its chief financial officer said on Wednesday.
Australia's wine export growth slowed last year and could take another hit in 2020 from the coronavirus outbreak if China, its biggest market, orders fewer crates, a report by an industry body said on Wednesday.
Oil prices climbed more than 1% on Wednesday, boosted by news that OPEC and its producer allies are weighing further output cuts to counter a potential squeeze on global oil demand resulting from China's fast-spreading coronavirus.
Japanese trading house Marubeni Corp on Wednesday cut its full-year net profit forecast by 17% due to a one-off loss on its energy assets and lower profits from U.S. agri-business in the wake of a prolonged U.S.-Sino trade war.
The global oil market expects the coronavirus outbreak to create a large demand shock and keep volatility in spot prices elevated, Goldman Sachs said.
Korean Air CEO Cho Won-tae's mother and younger sister said on Tuesday they support the flag carrier's current leadership headed by Cho.