FRONT PAGE NEWS
2 March 2020
ASIAN STOCKS RISE AS CENTRAL BANKS PLEDGE SUPPORT
Share prices in Asia have reversed early losses after Japan's central bank
promised to support markets.
It comes after official data showed that Chinese factory activity fell in
February at the fastest rate on record.
On Friday the US Federal Reserve made a similar pledge to intervene to stop
further big falls on the world's financial markets.
Last week concerns about the outbreak wiped more than $5 trillion from
In a rare emergency statement, Bank of Japan (BOJ) Governor Haruhiko Kuroda
said the central bank would take necessary steps to stabilise financial
markets: "Overseas and domestic financial markets continue to make unstable
movements due to heightening uncertainty over the impact on the economy from
the spread of the coronavirus."
"The BOJ will monitor developments carefully, and strive to stabilise
markets and offer sufficient liquidity via market operations and asset
purchases," he added.
The language used in the statement suggested the central bank is ready to
make full use of its existing tools to inject funds into the market, before
considering what other steps it may take.
PETE BUTTIGIEG DROPS OUT OF DEMOCRATIC RACE FOR WHITE HOUSE
Pete Buttigieg, the former Indiana mayor who made an ambitious run for
president, has announced he is ending his campaign for the White House.
The 38-year-old became the first openly gay presidential candidate from a
major party when he announced he was running for the Democratic nomination.
But despite a successful start, his campaign lost momentum in recent weeks.
His decision to drop out comes ahead of a key day on Tuesday in the
Democratic race to take on Trump.
Fourteen states will vote on Super Tuesday, by the end of which staunch
left-winger Bernie Sanders could have an unbeatable lead and be a step
closer to the nomination.
His departure leaves six Democrats still in the running.