Asian stocks seen retreating from 1-month high as investors reconsider risk [Reuters]
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Source: Reuters
Asian stocks seen retreating from 1-month high as investors reconsider risk NEW YORK (Reuters) - 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. E-Mini futures for the S&P 500 ESc1 fell right from the closing bell and were down 0.26%, while Nikkei futures NKc1 pointed to an opening loss of around five points, defying broad gains in U.S. stocks overnight. 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. Even estimates for a partial recovery next year are marred by “extreme uncertainty” and the outcome could be far worse, depending on the course of the pandemic, the fund warned. Some analysts agreed and counselled caution. “The current market opt
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