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Money World shares extend losses as toll from pandemic surges

13:16  30 march  2020
13:16  30 march  2020 Source:   msn.com

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BANGKOK — Asian shares started the week with fresh losses as countries reported surging numbers of infections from the coronavirus that has prompted shutdowns of travel and business in many parts of the world . Japan’s benchmark dropped almost 4% and other regional markets were mostly lower.

Asian shares are mostly lower as countries report surging numbers of infections from the coronavirus outbreak that has prompted shutdowns of travel and A man walks by an electronic stock board of a securities firm in Tokyo, Monday, March 30, 2020. Asian shares started the week with further losses

a person taking a selfie © Provided by The Canadian Press

BANGKOK — World markets started the week with fresh losses as countries reported surging numbers of infections from the coronavirus that are forcing shutdowns of travel and business in many regions.

Shares fell in London, Paris and Tokyo but surged 7% in Australia after the government promised more recession-fighting stimulus.

“We want to keep the engine of our economy running through this crisis," Prime Minister Scott Morrison told reporters in Canberra. His unprecedented $130 billion package includes wage subsidies of up to $1,500 per two weeks to businesses to keep workers on the job.

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  Unemployed Canadians anxiously awaiting federal COVID-19 help TORONTO — Canadians who have lost their jobs due to COVID-19 and are struggling to make ends meet anxiously awaited promised federal help on Wednesday as the countrywide pandemic toll climbed toward the 3,000 mark. Ontario reported 100 new cases — its largest single day jump — bringing the provincial total to 688, including nine of the 28 dead nationally. With governments implementing stiff restrictions aimed at slowing the epidemic and avoiding crushing an already stressed health-care system, an unprecedented number of people have seen layoffs and job losses over the past week.

BANGKOK (AP) — Asian shares started the week with fresh losses as countries reported surging numbers of infections from the coronavirus that has The U.S. pandemic relief bill approved by the Congress and signed Friday by President Donald Trump includes direct payments to households, aid

As coronavirus cases surge across the U.S., the internet has one word for this image of a crowded beach: Florida. Yahoo Finance Video. Asian shares extend losses as toll from pandemic surges .

a group of people walking on a sidewalk © Provided by The Canadian Press

U.S. futures yoyo'd throughout Asia's day but turned lower. The future for the S&P 500 fell 0.6% while that for the Dow industrials lost 0.8%. Oil prices were lower.

Hopes that a $2 trillion U.S. relief bill would ease the economic havoc brought by the pandemic did little to alleviate the gloom prevailing in many markets.

On Monday, Germany's DAX was flat at 9,634.00 while the CAC 40 in Paris lost 1.1% to 4,304.63. Britain's FTSE 100 declined 1.7% to 5,415.26.

The pandemic relief bill approved by the Congress and signed Friday by President Donald Trump includes direct payments to households, aid to hard-hit industries like airlines and support for small businesses. Analysts expect markets to remain turbulent, however, until the outbreak begins to wane.

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As death tolls from the coronavirus continue to surge across Europe, countries steel themselves for extended lockdown. 30 Mar 2020 07:02 GMT. As the outbreak continues to grow across Europe, leaders and health officials are warning their citizens that

MADRID, March 29 (Reuters) - Spain prepared to enter its third week under near-total lockdown on Sunday, as the government approved a strengthening of measures to curb the spread of the coronavirus and the death toll rose by 838 cases overnight to 6,528.

“Sentiment once again took a turn for the worse going into a week of reckoning by means of economic fundamentals," Jingyi Pan of IG said in a commentary. “The rally seen for Wall Street last week may amount to little more but a relief rally with sentiment turning sour once again going into a fresh week."

The push to deliver financial relief has gained urgency worldwide as the outbreak widens. The number of cases in the U.S. has now surpassed those in China and Italy, climbing to more than 142,000 known cases, according to Johns Hopkins University. The worldwide total has topped 723,000, and the death toll has topped 34,000, while nearly 152,000 have recovered.

On Monday, Tokyo's Nikkei 225 lost 1.6% to 19,084.97, while the Kospi in South Korea was flat at 1,717.12. The Shanghai Composite shed 0.9% to 2,747.21, while the Hang Seng in Hong Kong slipped 1.3% to 23,175.11.

Shares fell in Taiwan and Southeast Asia. India's Sensex fell 4.2% to 28,524.43.

Coronavirus: 674 deaths in 24 hours in Spain, third consecutive day of decline

 Coronavirus: 674 deaths in 24 hours in Spain, third consecutive day of decline © Provided by Le Point Spain recorded Sunday 674 deaths due to coronavirus in the last 24 hours, a figure down for the third consecutive day , while the pressure eases on the hospitals submerged under the influx of patients. The total number of deaths since the start of the pandemic amounts to 12,418, according to figures from the Ministry of Health, the highest number of deaths in the world behind Italy. But the balance sheet of 674 is the lowest in ten days.

Asian shares extend losses as toll from pandemic surges . What to know about the coronavirus numbers in New York. “This is something unique, with every league fan around the world , and anybody else, really, being able to contribute with their grain of sand,” Piqué said.

The death toll from the coronavirus epidemic in Europe surged past 20,000 on Saturday, even as the Chinese The grim new death numbers were reported after the IMF confirmed the world economy has plunged The World Health Organization's regional director for Africa warned the continent faces a

Some investors have emerged to hunt for bargins as prices kept falling, said Francis Lun, CEO of Geo Securities in Hong Kong.

He views it as a bit too early.

“I think whatever rally you see, is really a false rally, it will be only a flash in the pan. It’s only temporary. Don’t go bottom fishing just yet because the worst is still to come," Lun said.

For most people, the new coronavirus causes mild or moderate symptoms, such as fever and cough that clear up in two to three weeks. For some, especially older adults and people with existing health problems, it can cause more severe illness, including pneumonia, or death.

The damage from the pandemic to corporate profits, the ultimate driver of stock prices, remains uncertain.

But energy companies are suffering as the price of oil sinks. U.S. benchmark crude dropped 5.4% or $1.16 to $20.35 per barrel in electronic trading on the New York Mercantile Exchange. It slid 4.8% to close at $21.51 a barrel on Friday. Goldman Sachs has forecast that it will fall well below $20 a barrel in the next two months because storage will be filled to the brim and wells will have to be shut in.

Brent crude, the international standard, gave up 6% or $1.67 to $26.28 per barrel.

The yield on the 10-year Treasury slipped to 0.64% from 0.68% late Friday. Lower yields reflect dimmer expectations for economic growth and greater demand for low-risk assets.

In currency trading, the dollar was at 107.57 Japanese yen, down from 107.94 late Friday. The euro weakened to $1.1094 from $1.1142.

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Associated Press writer Alice Fung in Hong Kong contributed.

Elaine Kurtenbach, The Associated Press

COVID-19 obliterates 117,000 Albertans' jobs, hitting young, female service workers hardest .
We knew the numbers would be bad and, on Thursday, we got to see just how bad. Roughly 117,000 Albertans were among the one million Canadians who lost their jobs in March, in the wake of the widescale economic shutdown due to the COVID-19 pandemic. "We were anticipating losses of this magnitude and we saw similar developments in the United States," University of Calgary economist Trevor Tombe said of the new numbers from Statistics Canada. "ButRoughly 117,000 Albertans were among the one million Canadians who lost their jobs in March, in the wake of the widescale economic shutdown due to the COVID-19 pandemic.

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