Asian markets have shrugged off the latest...>

STOCKS: Asian markets have shrugged off the latest policy easing measures from

the Fed as concerns mount over the ability of central banks to shore up the

economy amid a global health emergency. 

- The Fed has cut rates to zero and announced an additional USD700bln in asset

purchases, having previously delivered an emergency 50bp cut.

- Aussie stocks have been the worst hit among the majors with the ASX200 down

9.7% on the day.

- Japanese and Chinese stocks fared somewhat better with losses capped at 2.5%

and 3.4%, respectively.

- Indian stocks are middle of the pack with the Sensex down 5.1%.

- At this point evidence of coordinated fiscal action would be needed to boost

market confidence, while a recovery in asset prices would likely require

evidence of the coronavirus being contained. Both of which remain elusive for

now.