Invest­ors await signs that the world is winnin­g the battle agains­t the diseas­eHONG KONG: Asia markets fell on Monday with investors cautious on news of an international deal to shore up oil prices and tentative signs of progress in efforts to combat the coronavirus pandemic. Oil futures surged in early Asian trade, with WTI climbing nearly 8% and Brent up 5% before both benchmarks pared their gains in afternoon trade. The rally followed months of slumping prices after the COVID-19 outbreak sapped demand as countries around the world put their populations under lockdown. “The most critical question for the economic outlook is whether, and how quickly, the coronavirus outbreak will decrease,” said Innes. More whirlwind sessions are likely this week, with new economic data to reveal the extent of the economic havoc unleashed by the COVID-19 pandemic on the world’s top two economies.

Source: The Express Tribune April 13, 2020 12:00 UTC