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But Chan said that it will not be a quick, robust V-shaped recovery like the one after the SARS epidemic in 2003.

Building more accessible routes to transfer water from the Yangtze River basin to areas of northern China will improve the country's ability to support economic and social development with water resources, he said.

Brent Crude, a worldwide benchmark, fell 3.12 percent. West Texas Intermediate Crude declined 3.23 percent. Oil is often viewed as a proxy for future economic activity.

Brexit uncertainties are continuing, but the fear of massive job losses to continental Europe has not yet been realized. Meanwhile, Deutsche Bank's announcement in March that it had taken out a 25-year lease on its London headquarters, where 7,000 people work, sent a reassuring signal to the commercial property market.

Brazil will face another "one or two more months of economic difficulties" as a result of the impact caused by the novel coronavirus (COVID-19) pandemic, said Guedes.