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'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.
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 top electric vehicle battery maker CATL said on Monday it has signed a battery supply agreement with Tesla .
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.
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
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.
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'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.
Some Chinese technology firms are continuing to manufacture parts and products despite government calls across various cities and provinces for work to be halted as Being seeks to stop the spread of the coronavirus ravaging the country.
China's securities regulator has urged mutual fund managers not to sell shares unless they face investor redemptions, four sources told Reuters, as the country's stock markets plunged on Monday amid a growing virus outbreak.
What diversification does is reduce volatility. Diversification does indeed smooth out investment returns, but that's a psychological decision, not an investment decision. As a result, asset allocation diversification does not help investment performance, it hurts it.
Airlines are suspending flights to China in the wake of the new coronavirus outbreak, which as of Friday had killed more than 200 people and infected nearly 10,000 people. [nL4N29Z6DC]
Apple Inc on Saturday said it has decided to shut down all of its official stores in mainland China until Feb 9., as fears over the coronavirus outbreak mounted and the death toll more than doubled to over 250 from a week ago.
Bankrupt California power producer PG&E Corp said on Saturday it had submitted an updated bankruptcy reorganization plan including a new board of directors and new roles aimed at addressing concerns raised by California Governor Gavin Newsom.