Global shares slump on China virus economic concerns, gold gains | Malay Mail

Traders work at the New York Stock Exchange January 31, 2020. — Reuters pic

Citigroup revised its full-year forecast for China’s GDP growth to 5.5 per cent in 2020 from 5.8 per cent. The bank also cut first-quarter growth expectations to 4.8 per cent from 6 per cent in the fourth quarter of 2019.“Until you get some sort of clarity that the spread has subsided and is slowing or there’s a foolproof antidote to it, I think the market will struggle,” said Lou Brien, market strategist at DRW Trading in Chicago.

“The Chicago PMI was very weak,” said Tim Ghriskey, chief investment strategist at Inverness Counsel in New York. Early gains in Europe quickly soured as headlines of more cases and deaths, travel bans and factory shutdowns due to the virus were compounded by disappointingly weak economic data.

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bank Negara says sentiments in global financial markets positive in Dec | Malay MailKUALA LUMPUR, Jan 31 — Sentiments in the global financial markets in December were positive amid prospects of easing global trade tensions, said Bank Negara Malaysia (BNM) today. The central bank said investor’s risk appetite improved following the announcement and subsequent signing of a phase...
Source: malaymail - 🏆 1. / 86 Read more »

Ringgit to trend downwards as coronavirus fears grip global markets | Malay MailKUALA LUMPUR, Feb 1 — As the 2019 novel coronavirus continues to grip global fears, the ringgit is expected to test the psycological level of 4.10 next week, with a downtrend momentum in the offing. FXTM market analyst Han Tan said during the holiday-shortened week due to the Lunar New Year,...
Source: malaymail - 🏆 1. / 86 Read more »