· Asian shares fell on Wednesday as a spike in new Chinese virus cases sent Hong Kong stocks tumbling and added to worries about the economic impact of the outbreak.
But there were some signs that global financial markets may be regaining their composure after days of heavy selling sparked by the epidemic.
MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.41%.
But most of the losses were confined to Hong Kong shares, which sank 2.4% on their first session after a two-and-a-half trading day break for Lunar New Year, led by declines in financial services, real estate, and consumer goods companies as a growing number of firms warned they may take a hit from the China virus.
· Japanese shares bounced back modestly on Wednesday, partially clawing back hefty losses from the previous two sessions, although gains were limited by worries over the fast-spreading coronavirus from China.
The Nikkei share average rose 0.71% to 23,379.40, while the broader Topix added 0.45% to 1,699.95.
Traders called it a mere technical rebound, noting the lingering concerns about the virus outbreak and its broader economic and market impact.
· European markets opened slightly higher on Wednesday as investors in the region brush off concerns about the spread of the China coronavirus.
The pan-European Stoxx 600 edged 0.1% higher in early trade, with banks adding 0.6% to lead gains while food and beverages, autos and household goods slid by around 0.2%.
Reference: Reuters, CNBC
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