Asia stocks slip after IMF warns of huge blow to global economy

Asia-Pacific stocks retreated in response to new indications the coronavirus pandemic is set to hit the global economy hard, with the IMF warning of the biggest worldwide slowdown since the Great Depression. The CSI 300 of Shanghai- and Shenzhen-listed stocks was off 0.1 per cent in early afternoon trading, paring initial losses after the People’s Bank of China cut its one-year medium-term lending facility by 0.2 percentage point to 2.95 per cent, the lowest level since its introduction in 2014. The PBoC “appears to be ramping up the pace of monetary easing”, said Julian Evans-Pritchard, senior China economist at Capital Economics.

https://finance.yahoo.com/m/cdbcfeda...html?.tsrc=rss