Some hope, article from SMH today "Commodities looking up as China gradually resumes businessBy David Scutt": " While the peak economic hit from the coronavirus outbreak has yet to be felt in most nations, commodity analysts at the Commonwealth Bank believe the worst has pass for the country where the virus originated, China.“The worst of the Chinese economic data is likely behind us,” said Vivek Dhar, mining and energy commodities analyst at the Commonwealth Bank.“Our daily trackers suggest the Chinese economy is recovering and imply the Chinese economy is running at around 80 per cent of its capacity."Mr Dhar anticipates additional policy easing will arrive in the months ahead to help revive the economy and offset increased external economic shocks.“We expect infrastructure spending will play a key role lifting domestic demand,” he said."Policymakers will continue to deliver tax cuts and other targeted measures to ease cash flow pressure and stabilise employment. However, we do not expect Chinese policymakers to embark on a sharp credit expansion because of concerns about high debt and low investment efficiency.”
TON Price at posting:
1.7¢ Sentiment: Buy Disclosure: Held
