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Asian shares mixed as oil prices fall back; China cuts rate
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BANGKOK – Shares were mixed in Asia on Monday after China cut a key interest rate to help cushion the impact of the pandemic on its economy.
Benchmarks rose Monday in Hong Kong and Shanghai but fell in Tokyo. Oil prices were lower. A fresh crop of grim economic data is expected this week after a worldwide rally on Friday that pushed the S&P 500 up 2.7%.
Japan reported Monday that its exports fell nearly 12% in March from a year earlier as shipments to its two biggest markets, the U.S.
and China, slipped. Providing a lift for Chinese markets, banks cut the benchmark interest rate, called the 1-year loan prime rate, by 0.20 basis points to 3.85%, seeking to boost the economy after it contracted by 6.8% in the first quarter of the year.
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COVID-19
United States
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Cases: 46 252 513
Deaths: 750 423
Recovered: 0
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India
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Cases: 34 321 025
Deaths: 459 652
Recovered: 0
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Brazil
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Cases: 21 835 785
Deaths: 608 235
Recovered: 0
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United Kingdom
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Cases: 9 215 683
Deaths: 141 607
Recovered: 0
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Russia
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Cases: 8 494 589
Deaths: 237 619
Recovered: 0
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