Asia markets rise as China trade data beats forecasts | Malay Mail

A man pulls a cart loaded with cardboard along a street in Wuhan in China’s central Hubei province on April 14, 2020. — AFP pic

But it came at the cost of drastic measures that shuttered much of the economy and cordoned off tens of millions of people at the epicentre of the outbreak. But Julian Evans-Pritchard of Capital Economics warned “the worst is still to come” for China’s export businesses, with more economic headwinds likely in the months ahead as major trading partners battle their coronavirus outbreaks.

Nearly 600,000 people have tested positive for the disease across the US, and more than 23,500 have died. Sydney was up 1.9 per cent despite the forecast doubling of Australia’s unemployment rate to 10 per cent in the second quarter, and a National Australia Bank survey showing record-low business confidence.

Producers had thrashed out a compromise over the weekend to cut production by nearly 10 million barrels per day from May.

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