Australia's trade surplus decreased to AUD 4.36 billion in February 2020 from a downwardly revised AUD 4.75 billion in the previous month and compared with market consensus of AUD 3.65 billion. This was the smallest trade surplus since October of last year, reflecting the impact of the COVID-19 pandemic. Exports tumbled 5 percent month-over-month to a 17-month low of AUD 37.76 billion, and imports slumped 4 percent to a 25-month low of AUD 33.4 billion. Considering the first two months of the year, the trade surplus narrowed to AUD 9.11 billion from AUD 9.84 billion in the same period of 2019.

The number of people infected with the coronavirus across the world rose towards 1.5 million of which at least 73 thousand died and over 275 thousand recovered. In the US, the epicentre of the disease, the number of infections surged to over 350 thousand, more than 25% of cases globally. Across the Atlantic, Spain, now the worst-affected European country, registered around 135,000 infections, followed by Italy (132,547) and Germany (101,806). Italy is the country with more deaths caused by the virus with 16,523, followed by Spain (13,169) and the US (10,369).

The annual inflation rate in the Philippines edged down to 2.5 percent in March 2020 from 2.6 percent in the previous month and compared with market consensus of 2.2 percent. Prices rose less for both alcoholic beverages and tobacco (18% vs 18.2% in February) and housing & utilities (1.1% vs 1.8%), while transport prices fell for the first time in three months (-1.8% vs 1.8%). Meantime, inflation was unchanged for clothing and footwear (at 2.7%), health (at 2.9%), education (at 4.7%) and restaurant and miscellaneous goods and services (at 2.6%), while cost increased faster for food & non-alcoholic beverages (2.6% vs 2.1% in February), furnishing, household equipment and routine maintenance (4.2% vs 3.5%), communication (0.5% vs 0.4%) and recreation and culture (1.6% vs 1.5%). On a monthly basis, consumer prices fell 0.1 percent, after a 0.2 percent gain in March.

Oil prices edged higher in early Asian trading on Tuesday, on increased hopes that OPEC and Russia would agree to cut production at a meeting scheduled for Thursday. The Cartel signalled a willingness to coordinate with other oil-exporting countries, including the United States, to help balance the market. Oil prices have plunged more than 66% this year because of the twin hits of the coronavirus outbreak slashing fuel demand and a price war between top producers Saudi Arabia and Russia after the collapse of OPEC. US crude rose nearly 3% to $27.03 a barrel while Brent added as much as 2.2% to $33.75 a barrel on Tuesday morning in Asia.

The Australian Industry Group Australian Performance of Services Index declined to 38.7 in March 2020 from 47 in the previous month. The latest reading pointed to the fourth consecutive contraction in the services sector and to the lowest level in 11 years, amid environmental disruptions and the coronavirus shutdown. New orders fell sharply after returning to positive territory in the previous month, contracting for the third time in four months. Looking ahead, the most frequently reported concern for businesses was the effect of a possible global pandemic of coronavirus.

Consumer prices in Thailand declined by 0.54 percent year-on-year in March 2020, compared with market expectations of a 0.6 percent drop and after a 0.74 percent rise in the previous month. This was the first fall in consumer prices since June 2017. The commerce ministry forecast headline inflation of between 0.4 to 1.2% for 2020. Core consumer prices, which exclude raw food and energy, increased 0.54 percent, compared with forecasts of a 0.5 percent rise.

Canada’s main stock index climbed on Monday, as investors are more confident amid a global slowdown in coronavirus-related deaths. The slowing rate of new infections and deaths in Italy, Spain and Germany also gave some hope that current social distancing measures and lockdowns are being effective in controlling the disease. Meantime, Canadians who lost income due to COVID-19 could start applying Monday for a new emergency benefits program as the government tries to soften the economic impact of the virus. The Toronto Stock Exchange’s S&P/TSX composite index rose 654 points or 5.1% to close at 13,593.

Indonesia's stock exchange fell 83 points or 1.7% to 4,728 on Tuesday at around 10:45 AM Jakarta time, trimming its earlier losses, after Reuters reported that Southeast Asia's largest economy has raised $4.3 billion in its first so-called "pandemic bond" to cover the country's widening deficit this year, amid efforts from the government to fund COVID-19 relief and its recovery. The deal was finalized in the US overnight and sold in tranches of 10.5 years and 30.5 years, worth $1.65 billion each, and a $1 billion 50-year tranche. Declines were led by healthcare stocks, telecommunications, consumer non-cyclicals, energy and financials. Meanwhile, utility stocks, technology and industrials were among top performers.

The Shanghai Composite index opened higher on Tuesday, with the benchmark was up 1.6 percent to open at 2,807, as investors returned from a holiday, amid signs of a slowdown in COVID-19-related deaths. The rise followed a rally on Wall Street overnight. Gains in the index were broad-based between 0.9% for energy stocks and telecommunications (3.5%).