Asia top stories – weekly summary

SINGAPORE (ICIS)–Here are the top stories from ICIS News Asia and the Middle East for the week ended 27 March 2020.

Asia petchem shares rise after G20 pledge to inject trillions into global economy
Asian petrochemical shares and crude oil futures rose on Friday after G20 leaders overnight pledged to inject $5 trillion into the global economy to cushion the slump caused by the coronavirus pandemic.

Asian petchems end mixed, oil lower as investors await US jobless claims data
Asian petrochemical shares ended mixed on Thursday while crude oil prices fell as investors await key data on initial jobless claims in the US later in the day.

India petrochemical trades stalled; force majeure in place at ports amid lockdown
Petrochemical trades in India were disrupted with plants shutting down and ports declaring a force majeure amid a three-week nationwide lockdown meant to contain the spread of the novel coronavirus in the world’s second most populous country.

Asia MX falls below $400/tonne mark on weak China demand; market bearish
Asia’s isomer-grade mixed xylene prices have been hovering at their lowest in nearly 17 years, with the market outlook bearish on weak demand from China.

Asia naphtha sinks to 18-year low on extended crude oil falls
Asia naphtha prices fell by over $40/tonne at the week’s outset, hammered by further declines in crude oil futures as the escalating coronavirus pandemic raised fears of global demand evaporating.