South Korea’s fall of almost 2 per cent due to the fall in asian shares; The IMF reduced its forecast

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Shares in Asia-Pacific declined in trade on Thursday afternoon after the international monetary Fund has again reduced its economic forecasts on Wednesday.South Korea, the Kospi, has led to losses among the major markets in the region, losing to 1,77%. In Japan, the Nikkei 225 fell 0.99%, while the Topix lost 1%.

Shares in Australia have also declined, with the S & P / ASX 200 retreating of 1.62%. In South-East Asia, the index Straits Times has decreased 1.25%.

Overall, the MSCI Asia ex-Japan was down 0.7%.

The markets in china and hong kong are closed Thursday for the holiday.

The IMF now believes to a contraction of 4.9% of the world’s gross domestic product in 2020, lower than the decline of 3% predicted in April.

“The pandemic of Covid-19 has had a more negative impact on activity in the first half of 2020 as scheduled, and the recovery should be more gradual than expected,” said Wednesday the IMF in its update of world economic Outlook.

“In the month of may – every economy that we follow, more than a hundred – has been judged to be in recession,” said Thursday, Mark Zandi, chief economist at Moody’s Analytics, the “Squawk Box” from CNBC.

“Generally, in the global recessions, you have a part of the world, a large part of the world, which manages the recession reasonably well, out the other side and is the engine of … growth to the economic recovery,” said Zandi. “There is no engine of growth evident here. ”

The reaction of investors to the movements of night on Wall Street has also been observed on Thursday. The Dow Jones has lost 710,16 points, or 2.7%, to close at 25 445,94. The S&P 500 ended the day trading down 2.6% to 3 050,33 while the Nasdaq Composite slipped 2.2% to close at 9 909,17. This was the worst day for the Dow, the S&P 500 and the Nasdaq since June 11.

The movements in the United States occurred in the wake of an increase in the cases of coronavirus in some States, Florida and California is reporting a record number of new cases. Most of 2.36 million cases of coronavirus have been reported in the United States while at least 121 662 lives have been killed, according to data compiled by the Johns Hopkins University.

The us dollar index, which tracks the greenback against a basket of its peers, was to 97,32 after an increase compared to the levels lower than 97 previously observed.The japanese yen is trading at 107,20 for a dollar during a week of volatile trading that has seen it at lower levels 106,4 against the greenback. The australian dollar changed hands at 0,6865 $ after having slipped over $ 0.69 saw yesterday.

The price of oil declined in the afternoon trading hours asian Thursday, the futures contract on the international crude Brent declined 0.47% hour to $ 40.12 per barrel. Futures contracts on the crude american have lost 0,34% to 37,88 $ per barrel.

– Silvia Amaro of CNBC contributed to this report.

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