Moody’s Investors Service slashed the outlook for the Indian banking system to negative from stable citing disruptions to economic activity from the coronavirus pandemic that will worsen the ongoing slowdown and impair lenders’ asset quality, Bloomberg News reported. A deterioration in global economic conditions and a 21-day lockdown imposed by India will weigh on domestic demand and private investment, the ratings agency said in a statement Thursday.

Banks are under increased pressure to raise loan margins in the Greater China region as the coronavirus pandemic weakens lending and a global dollar liquidity squeeze pushes up funding costs, Bloomberg News reported. That’s a key takeaway from a Bloomberg survey of 15 major syndicated loan arrangers operating in the region, including international and Chinese banks. The survey was conducted between March 30 and April 1.

India’s checkered history with foreign investors is making one of the biggest emerging markets look particularly vulnerable at a time when its need for overseas funding has never been clearer, Bloomberg News reported. Decades of semi-socialist, self-reliance based policies following independence left a legacy of ambivalence, or even skepticism, towards overseas capital. As recently as last year, plans for an inaugural offshore sovereign bond provoked a wave of controversy. That could all change now that India faces both a sharp economic slowdown and a rapid expansion in borrowing needs.

Swissport International AG, the airport ground services firm owned by beleaguered Chinese conglomerate HNA Group Co., hired advisers to review its debt as passenger air traffic grinds to a halt because of coronavirus restrictions, Bloomberg News reported. The company appointed Houlihan Lokey Inc. as financial adviser as it considers a restructuring of its 1.6 billion euros ($1.7 billion) of debt, according to people familiar with the matter who asked not to be identified because the appointment is private.

China Evergrande Group’s pledge to remake itself as a leaner company with a focus on controlled growth has been met with skepticism, with analysts concerned margins will suffer and others saying investors need more clarity, Bloomberg News reported. China’s most indebted developer unveiled a three-year plan on Tuesday titled ‘Growing Sales, Controlled Scale & Reduced Leverage’. The aggressive strategy includes cutting total debt load by 50%, boosting sales and trimming its land bank. Evergrande also Tuesday reported its first fall in annual profit in four years.

Foreign investors sold a record $16bn of Indian stocks and bonds in March as the economic tumult caused by coronavirus prompted a flight from emerging markets, the Financial Times reported. The selling by overseas investors came during a dire month for India’s financial markets. The Bombay Stock Exchange’s Sensex index fell 23 per cent in March to its lowest level since 2017, while the rupee dropped to a record low of more than 76 to the dollar. Foreign investors sold Rs620bn ($8.2bn) of equities in March and Rs603bn in bonds, according to data from India’s securities depositories.

Hong Kong’s retail sales fell by a record 44% in February from a year earlier, as travel restrictions kept tourists away and residents avoided shopping centres to prevent the spread of the coronavirus, Reuters reported. The spending drought has hit an economy already in recession after months of often-violent anti-government protests. Retail sales in February fell 44% from a year earlier to HK$22.7 billion ($2.93 billion), compared with a revised 21.5% drop in January, government data showed on Tuesday.

Like millions of people around the world, Zhang Chunzi borrowed money she thought she’d be able to repay before the coronavirus changed everything, Bloomberg News reported. Now laid off from her job at an apparel exporter in Hangzhou -- one of China’s most prosperous cities -- the 23-year-old is missing payments on 12,000 yuan ($1,700) of debt from her credit card and an online lending platform operated by Jack Ma’s Ant Financial. “I’m late on all the bills and there’s no way I can pay my debt in full,” Zhang said.

OneWeb, the satellite operator backed by Japan’s SoftBank Group Corp, said it has filed for Chapter 11 bankruptcy to pursue a sale of its business and has cut its workforce amid the coronavirus outbreak, Reuters reported. OneWeb is in negotiations for debtor-in-possession financing, which if acquired and approved by the court will support its ongoing business, the company said in a statement that did not mention how many jobs were being cut.

HOOQ Digital, a video streaming service majority owned by Singapore Telecommunications Ltd, said it was filing for liquidation as it had not been able to grow sufficiently to provide sustainable returns nor cover escalating costs, Reuters reported. HOOQ was started as a joint venture in 2015 between Singtel, Sony Pictures Television and Warner Bros Entertainment. But it has failed to make major gains as larger rivals such as Netflix Inc expanded in the region.