(Bloomberg) — U.S. and European equity futures rose alongside China’s stocks and the yuan, taking encouragement from pledges to support the nation’s economy. Japanese equities declined after a deep contraction in GDP.China’s CSI 300 Index recouped all of its losses since trading resumed after the Lunar New Year break, with the central bank lowering one of its interest rates and saying it would support firms that can restart production as soon as possible. Otherwise, Asian markets saw a mixed start to the week. Treasuries aren’t trading due to a U.S. holiday. The euro ticked higher.China also over the weekend unveiled plans for reducing corporate taxes and fees, and letting banks run up more non-performing loans. Bloomberg Economics estimated China’s economy has been running at just 40% to 50% capacity in the last week, underscoring the short-term damage done by the coronavirus-linked shutdowns of large swathes of the country.Hubei, the province at the epicenter of the outbreak, Monday reported 1,933 new cases, slightly higher than a day earlier. Deaths were reported in France and Taiwan over the weekend, bringing to five the number of fatalities outside mainland China.“If the Chinese economy does recover and you’ve added all this fiscal and monetary stimulus into it as well, the situation could be that you have much stronger emerging markets into the second half” of 2020, Sunny Bangia, a fund manager at Antipodes Partners Ltd., said on Bloomberg TV in Sydney. “A lot depends on how this virus gets contained and if it can morph into something more minor.”Japan’s Topix Index slid as much as 1.5% after the worst nominal GDP performance since Prime Minister Shinzo Abe took office. In Singapore, the government Monday cut its growth forecasts, citing uncertainty over the length and severity of the virus outbreak. The country is expected to unveil a large stimulus package to mitigate the hit from the epidemic.Here are some key events coming up:Earnings season rolls on with results from companies including: BHP Group, Glencore Plc, HSBC Holdings Plc, Walmart Inc. and Deere & Co.U.S. celebrates Presidents’ Day on Monday, with financial markets shut.Minutes of the most recent Federal Reserve meeting are published on Wednesday.Indonesia is expected to cut interest rates on Thursday, following emerging-market peers from Brazil to South Africa which have lowered borrowing costs already this year.Group of 20 finance ministers and central bank chiefs are scheduled to meet Feb. 22-23 in Riyadh, Saudi Arabia, and are expected to discuss efforts to support growth amid the coronavirus threat.These are the main moves in markets:StocksThe MSCI Asia Pacific Index fell 0.2% as of 7:09 a.m. in London.Japan’s Topix index lost 0.9%.Futures on the S&P 500 added 0.3%. The index rose 0.2% on Friday.Hong Kong’s Hang Seng Index rose 0.5%.The Shanghai Composite Index added 2.3%.Australia’s S&P/ASX 200 Index slipped 0.1%.South Korea’s Kospi index was little changed.Euro Stoxx 50 contracts rose 0.2%.CurrenciesThe yen was flat at 109.85 per dollar.The offshore yuan added 0.1% to 6.9829 per dollar.The Australian dollar rose 0.2% to 67.27 U.S. cents.The euro bought $1.0837.BondsThe yield on 10-year Treasuries slid three basis points to 1.58% on Friday. Futures were down slightly Monday.Australia’s 10-year yield held at 1.05%.CommoditiesWest Texas Intermediate crude ticked up 0.2% to $52.16 a barrel.Gold was little changed at $1,582 an ounce.To contact the reporters on this story: Adam Haigh in Sydney at firstname.lastname@example.org;Andreea Papuc in Sydney at email@example.comTo contact the editors responsible for this story: Christopher Anstey at firstname.lastname@example.org, Joanna OssingerFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.