BANGKOK – Asian markets started the week with fresh losses as countries reported surging numbers of infections from the coronavirus that has prompted shutdowns of travel and business in many parts of the world.
Japan's benchmark fell nearly 3% and other regional markets were mostly lower. Shares in Australia surged 7% after the government promised more recession-fighting stimulus. “We want to keep the engine of our economy running through this crisis," Prime Minister Scott Morrison told reporters in Canberra.
The unprecedented $130 billion package includes wage subsidies of up to $1,500 per two weeks to businesses to keep workers on the job.