Asia Pacific markets set for mixed open as IMF flags risk of severe global recession

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Asia Pacific markets set for mixed open as IMF flags risk of severe global recession
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The International Monetary Fund warned that the global economy is set to see its worst financial crisis since the Great Depression.

Futures pointed to a lower open for Japanese stocks, while shares in Australia were set to edge higher.

The International Monetary Fund warned on Tuesday that the global economy is set to see its worst financial crisis since the Great Depression. Stocks in Asia were set to open mixed on Wednesday as the economic impact of the coronavirus pandemic continues to weigh on investor sentiment. Futures pointed to a lower open for stocks in Japan. The Nikkei futures contract in Chicago was at 19.625 while its counterpart in Osaka was at 19,520. That compared against the Nikkei 225's Tuesday surge of more than 3% to close at 19,638.81.

Meanwhile, shares in Australia were set to edge higher. The SPI futures contract was at 5,500.0, as compared to the

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