Global shares rose as the promise of further policy stimulus from Beijing to counteract the economic hit from a coronavirus outbreak calmed nervous investors
LONDON - Global shares rose on Monday as the promise of further policy stimulus to counteract the economic hit from a coronavirus outbreak calmed nervous investors.
Also whetting risk appetite was an announcement by China’s finance minister on Sunday that Beijing would roll out tax and fee cuts. Fears about the jolt to the world economy from the coronavirus lingered, though, as the number of reported new cases in China rose to 2,048 as on Sunday from 2,009 the previous day.
Japan’s Nikkei fell 0.7% after its economy shrank at the fastest pace in almost six years in the December quarter. The slowdown in the world’s third-largest economy came amid concern the coronavirus effects will hurt output and tourism, stoking fears Japan may slump into recession.
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