However, Tom Piotrowski, a market analyst at Australian broker CommSec, said market participants are now likely to look past the dire historic numbers as more recent data suggests the global recovery is gaining momentum.
Asian shares were set to gain on Wednesday, encouraged by buoyant US moves that followed stronger-than-expected manufacturing indicators while the dollar emerged from its recent lows against the euro.
Investors in Asia await Australia’s gross domestic product data, which is expected to confirm the economy fell into its deepest slump since the Great Depression.
