Asian shares looked set to pull back from a one-month high on Tuesday, as warnings of a deep recession dampened investor optimism that the slowing spread of the coronavirus could allow businesses to re-open. The retreat from riskier assets followed the International Monetary Fund’s prediction on Tuesday that the global economy may shrink by 3% in 2020 due to the virus outbreak, in the worst downturn since the Great Depression of the 1930s. “The current market optimism may be premature because the global economy is in a deep recession,” said Kim Mundy, an analyst at Commonwealth Bank of …read more
Source:: Yahoo Finance
