Asian markets mostly up, dollar sinks on stimulus pledges
Sri Lanka, March 27 -- HONG KONG (AFP) - Asian equities mostly rose and the dollar extended losses yesterday, with traders buoyed by government and central bank pledges to prop up the global economy as the coronavirus sends countries into lockdown.
Despite the painful toll the disease is inflicting on lives and economies, markets are on course to end the week with healthy gains following a barrage of stimulus and
monetary easing.
While the number of people contracting COVID-19 continues to escalate - the US now has more confirmed cases than China and Italy - the support measures, which the G20 said amounted to US$ 5 trillion, have given traders hope that the expected recession will be sharp but short.Even news that a record 3.3 million...
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