Asia Stocks Trade Mixed as IMF Warns Global Eco to Face Worst Financial Crisis
Asia Stocks Trade Mixed as IMF Warns Global Eco to Face Worst Financial Crisis since the Great Depression.
Stocks in Asia traded mixed in the morning session on Wednesday, April 15, 2020, as the IMF warned that the global economy is set to see the biggest financial crisis since the Great Depression in 1929-1933.
As of 8:50 local time in Thailand (GMT+7), Nikkei fell 0.56%, SSEC dropped 0.22%, ASX 200 dipped 1.02% while HSI gained 0.19% and Kospi increased 1.72%.
On Tuesday, the International Monetary Fund (IMF) stated in its World Economic Outlook for 2020 and 2021 that the world could see the worst financial crisis since the Great Depression. The IMF also made a new forecast for the global GDP to contract by 3% in 2020 after a forecast of 3.3% growth in January.
In the statement, IMF estimated that the U.S. economy is projected to decline this year by 5.9%, the Euro area by 7.5% and China will grow only 1.2%.
