· Asian stocks bounced on Tuesday with Chinese markets reversing some of their previous plunge amid official efforts to calm virus fears, although investor sentiment remained fragile with oil near 13-month lows.
MSCI's broadest index of Asia-Pacific shares outside Japan .MIAPJ0000PUS rose 1.5%, led by gains in South Korea .KS11 and Australia . Japan's Nikkei .N225 edged 0.6% higher.
· Japanese stocks edged up on Tuesday, erasing early losses as Chinese shares steadied somewhat after crumbling the previous day, but sentiment remained fragile as investors fretted over the growing economic and human costs of a virus outbreak.
The Nikkei index ended up 0.49% at 23,084.59, stepping off from a 10-week low hit in the previous session. Shares in the technology and consumer stables sectors rose.
· Chinese stocks ended higher on Tuesday as the central bank vowed to stabilise the market, regaining some ground from the coronavirus-led rout that erased almost $400 billion in market value from the Shanghai benchmark in the previous session.
The Shanghai Composite index closed up 1.3% at 2,783.29 — the biggest daily gain since Dec. 13, 2019. The blue-chip CSI300 index jumped 2.6%, clocking its biggest daily gain since July 1, 2019.
· European markets opened higher on Tuesday as sentiment improves and investors brush aside economic fears over the coronavirus outbreak.
The pan-European Stoxx 600 climbed 0.5% in early deals, with oil and gas and basic resource stocks each adding 1.3% to lead gains as all sectors and major bourses entered positive territory.
· Thailand may lose 2 billion baht ($64.6 million) in exports to China in the first quarter, as the impact of coronavirus on supply chains weighed, a Thai shipping association said on Tuesday.
Exports of fresh fruits and vegetables will be the worst hit, Ghanyapad Tantipipatpong, group chairwoman of Thai National Shippers’ Council, told reporters.
Reference: Reuters, CNBC
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