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.
Fears of a credit crunch in
Wall Street's cash-starved funding markets eased Tuesday after
the Federal Reserve announced a series of moves aimed at
bolstering liquidity and improving investor confidence amid a
spreading coronavirus pandemic.
Canada's six largest banks will
temporarily limit operating hours and close some branches as
part of measures to support social distancing and curb the
outbreak of the novel coronavirus, the Canadian Bankers
Association said on Tuesday.
SoftBank Group Corp is
considering pulling out of a $3 billion bid to buy additional
shares in WeWork, because it feels the office-space sharing firm
has not met the conditions for the deal, people familiar with
the matter said on Tuesday.