By Wayne Cole
SYDNEY (Reuters) – Caution gripped Asian share markets on Monday on expectations a busy week of corporate earnings reports and economic data will drive home the damage done by the global virus lockdown, while a glut of supply sent U.S. crude spiralling to 20-year lows.
Japan reported its exports fell almost 12% in March from a year earlier, with shipments to the United States down over 16%. Early readings on April manufacturing globally are due on Thursday and are expected to show recession-like readings.
MSCI’s broadest index of Asia-Pacific shares outside Japan eased 0.2% in slow trade, with a pause needed after five straight weeks of gains. Japan’s Nikkei fell 0.9% and Shanghai blue chips 2.4% even as China cut benchmark interest rates as widely