Asia shares perform cautiously, U.S. crude declines
A safe trading session was monitored in Asian share markets on Monday. Investors’ sentiment level was supported by hopes that strong corporate earnings and economic data will minimize the disruptions brought by the pandemic. However, the U.S. crude sunk down to a 20-year low record.
According to figures released by Japan, its exports had shed a total of 12% in March. Its U.S.-bound shipments also declined by 16%. April’s manufacturing report is set to be released on Thursday and is expected to render a negative result.
MSCI’s broadest index of Asia-Pacific shares outside Japan reversed 0.2%. The index marginally eased after five consecutive weeks of earnings. The Japanese benchmark index Nikkei declined with a 0.9% setback while Shanghai blue chips inched down 2.4%. Minimal market reversals followed even after China reduced its benchmark interest rates.
S&P 500 E-Mini futures slipped 0.2% after the upbeat performance recorded last week. It soared to a new record on optimism that several states in the United States would reopen their economies soon.