Asian shares inched higher on Monday ahead of a busy week for earnings and central bank meetings, with much chatter the Bank of Japan (BOJ) will announce more stimulus steps.
FILE PHOTO: A pedestrian wearing a face mask walks near an overpass with an electronic board showing stock information, following an outbreak of the coronavirus disease , at Lujiazui financial district in Shanghai, China March 17, 2020. REUTERS/Aly Song
It is also expected to raise purchases of corporate and commercial debt, and perhaps launch a new loan programme to help companies struggling with cash flow. “We expect the ECB to raise the size of its emergency bond buying package by around 500 billion euros to 1.250 trillion and to continue pressing for a sizeable fiscal stimulus.”
Analysts expect a 15% decline in S&P 500 first-quarter earnings, with profits for the energy sector estimated to slump more than 60%, raising fears of debt defaults, layoffs and possible bankruptcies.
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