Asian markets down following grim economic data

HONG KONG : Asian markets fell on Thursday following overnight woes on Wall Street as more negative US economic data fuelled worries about the full impact of the coronavirus pandemic.

US retail sales plunged in March while industrial production in the same month suffered its steepest drop since 1946, data showed Wednesday. The World Health Organization has warned, however, that lifting virus-related restrictions too early could have devastating consequences, with fears of a possible second wave of infections.

There was more bad news on oil markets, with the International Energy Agency warning that 2020 was likely to be"the worst year in the history" of the sector.

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