China's central bank cut the interest rate on its medium term loans on Monday as policymakers try to reduce the economic shock from a coronavirus outbreak that is severely disrupting business activity.
New home prices in China rose 0.2% in January from a month earlier, easing from a 0.3% increase in December, Reuters calculated from official data on Monday, as a coronavirus outbreak brought the country's property market to a halt.
* Feb manufacturers' sentiment index -5 vs Jan -6. * Service-sector index +15 in Feb vs Jan +14. * Manufacturers, service-sector mood seen flat ahead. * Reuters Tankan closely correlates with BOJ tankan. By Tetsushi Kajimoto.
Zhejiang Hisun Pharmaceutical Co Ltd : * RECEIVES APPROVAL TO MANUFACTURE FAVIPIRAVIR FOR NEW AND RECURRING INFLUENZA IN ADULTS. * SAYS IT RECEIVES APPROVAL TO START CLINICAL TRIALS FOR USE OF FAVIPIRAVIR TO TREAT PNEUMONIA CAUSED BY NEW CORONAVIRUS Source text in Chinese: https://bit.ly/2SKKE3S Further company coverage:
Oil prices edged lower on Monday as investors brace for economic data in Asia due this week that should give a reading on how China's coronavirus epidemic has affected oil demand. Brent crude was at $56.99 a barrel, down 33 cents by 0121 GMT after rising 5.2% last week, the biggest weekly gain since September 2019.
China's auto market, the world's largest, is likely to see sales slide more than 10% in the first half of the year due to the coronavirus epidemic, the country's top auto industry body told Reuters on Friday.
* Euro near 33-month low as growth stagnates in euro zone. * Yen shows limited response to poor Japan GDP. * Graphic: World FX rates in 2020 https://tmsnrt.rs/2RBWI5E. By Hideyuki Sano.
Asian shares reversed earlier losses on Monday and moved back toward a three-week top as Chinese efforts to cushion the blow from a coronavirus outbreak cheered investors, although Japanese stocks faltered amid growing recession risks. Trading is expected to be light as U.S. stocks and bond markets will be shut on Monday for a public holiday.
* Asian stock markets: https://tmsnrt.rs/2zpUAr4. * MSCI ex-Japan eases slightly, Japan's Nikkei stumbles. * Japan's GDP shrinks at fastest pace in 6 years. * Singapore downgrades growth outlook due to coronavirus. By Swati Pandey.
Japanese Economy Minister Yasutoshi Nishimura said on Monday the government was ready to take all necessary steps flexibly with an eye on the impact of the coronavirus outbreak on the economy and tourism. "The government had hoped Japan's economy would continue a moderate recovery.
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