CORONAVIRUS fears weighed on global stock markets Thursday as investors took profits even after China reported a big drop in new cases and eased borrowing costs to cushion the epidemic\u2019s economic impact.<\/p>\n
Traders have been betting on central banks doing what it takes to keep their economies chugging along as the new coronavirus hits corporate earnings and economic growth.
\n\u201cCoronavirus uneasiness is lingering as cases continue to spread beyond China, though China did report more stimulus measures and some favourable economic data,\u201d said analysts at the Charles Schwab brokerage.<\/p>\n
The People\u2019s Bank of China (PBoC) lowered its one-year and five-year loan prime rates, but the moves were \u201cnot nearly enough\u201d, said Stephen Innes of AxiCorp.<\/p>\n
\u201cThe PBoC needs to exceed the market expectations, not hit them in this environment,\u201d he said.
\nThe bank\u2019s actions still helped the Shanghai stock market reach a 1.8 percent closing gain.
\nIn the best-case scenario, the economic hit from the epidemic in China will be short-lived, but it comes as the global economy remains fragile, IMF chief Kristalina Georgieva said Wednesday.<\/p>\n","protected":false},"excerpt":{"rendered":"
CORONAVIRUS fears weighed on global stock markets Thursday as investors took profits even after China reported a big drop in new cases and eased borrowing costs to cushion the epidemic\u2019s economic impact. Traders have been betting on central banks doing what it takes to keep their economies chugging along as the new coronavirus hits corporate […]<\/p>\n","protected":false},"author":84,"featured_media":9326,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3,8,12],"tags":[1279,716],"class_list":{"0":"post-19769","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-all-news","8":"category-head-lines","9":"category-policy","10":"tag-coronavirus-in-zimbabwe","11":"tag-trade-market"},"yoast_head":"\n