· Asian stocks and currencies fell on Thursday as the death toll from a new virus spreading in China rose and more cases were reported around the world.
Federal Reserve Chairman Jerome Powell acknowledged on Wednesday the risks from any slowdown in the world’s second-largest economy but said it was too early to say what the extent of the impact would be on the United States.
MSCI’s broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS fell 1.7% to an almost seven-week low. It has dropped for six straight sessions.
China’s National Health Commission said on Thursday the total number of confirmed deaths from the coronavirus in the country climbed to 170 as of late Wednesday and the number of infected patients rose to 7,711.
Infections have been reported in at least 15 other countries and in every province of mainland China. Sweden’s IKEA said on Thursday that it has temporarily closed all its stores in China because of the outbreak of the new coronavirus.
· Japanese stocks fell on Thursday with a sharp drop in Taiwan shares accelerating the selloff in Tokyo, while investors also kept an eye on a World Health Organization (WHO) meeting related to the coronavirus outbreak.
The Nikkei share average ended Thursday down 1.72% at 22,977.75. At one point Japanese stocks touched the lowest level since Nov. 21.
Losses in Japanese shares accelerated after stocks in Taiwan plunged at the open in their first trading session since the Lunar New Year break.
Taiwan shares ended down 5.75%, the biggest decline since October 2018, in what could be a preview of how Chinese shares will react when their financial markets re-open on Feb. 3.
China’s death toll from the coronavirus outbreak rose by 38 to 170 as of late Wednesday and the number of infected patients increased by more than 1,700 to 7,711.
· European markets opened lower Thursday, weighed on by a rising coronavirus death toll and reacting to the U.S. Federal Reserve’s decision to keep interest rates on hold.
The pan-European Stoxx 600 dropped more than 0.7% at the opening bell, with basic resources falling 2% to lead losses as all sectors and major bourses slid into the red.
The coronavirus continues to be a focus for international markets; the outbreak has already taken more than 170 lives and infected more than 7,711 in China, according to the latest update by China’s National Health Commission.
Stocks in Asia slipped in Thursday afternoon trade on concerns over the virus and markets were also subdued following the U.S. Federal Reserve’s decision to kept interest rates on hold.
Reference: Reuters, CNBC
Thai
Eng