Daily Asia-Pac Opening News - 19/05/20

5/19/2020 03:58:00 AM
  • The week began at the risk on fashion, Supported by news of the reopening of the economy and advances in vaccines and treatment.
  • White House spokesperson called China's USD 2bln pledge to the WHO a "token" to distract from China's failure to warn the world of what was coming and stated that China has a responsibility to give more to WHO in the wake of the crisis. (Newswires)
  • Moderna (MRNA) announced positive interim Phase One data for its MRNA vaccine against COVID-19; three patients on the highest doses had severe but not life-threatening side effects.
  • UK-US round two of trade talks have been scheduled for June 15-22, while a UK official said round one talks were positive and constructive, with "significant emphasis" on supporting the post-pandemic recovery.
  • BoE's Tenreyro said MPC has not ruled out any policy tool and that it is her personal view that negative rates have had a positive impact in Europe, while she added there are some considerations that would be more specific to the UK. (Newswires).
  • Fed Chair Powell reiterated pledge to maintain near-zero rates until the economy has weathered the crisis and Fed will use full range of tools to support the economy, while he noted that the passage of CARES act in March is critical to Fed's ability to expand credit programmes to help the economy. (Newswires)
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