The economies of Mexico,
Chile and Argentina will all likely shrink this year while
Brazil should expect no growth as the coronavirus pandemic
ravages supply and demand around the world, Credit Suisse said
in a note to clients.
Japanese stocks advanced on Wednesday
after Wall Street staged a strong rebound as policymakers across
the world cobbled together packages to counter the severe
restrictions on various regular activities aiming at slowing the
spread of the coronavirus.
Australian shares fell almost 5.5% on
Wednesday, wiping out most of the gains made in the last
session's rebound, as fears of a coronavirus-induced recession
outweighed stimulus measures aimed at cushioning the hit from
the worsening epidemic.
South Korea on Wednesday said it
will relax a key foreign exchange regulation to encourage banks
to supply more dollars in local markets as the coronavirus
pandemic drives a global rush for the U.S. currency.