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Feb. 25, 2020, 11:13 p.m. EST

Asian markets continue to pull back fears of growing global outbreak

Stocks down in Tokyo, Hong Kong, but up slightly in Shanghai

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By Marketwatch


AFP/Getty Images
A pedestrian walks past an electronic board displaying prices of the Nikkei 225 Index and other Asian stock markets in Tokyo on Wednesday.

Asian markets declined in early trading Wednesday following another sharp selloff on Wall Street as the global spread of the coronavirus outbreak continued to rattle traders.

Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK +0.18%   sank 0.7%, and Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.54%   dipped 0.5%. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -1.04%   edged up 0.3%, while the smaller-cap Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 -1.90%   fell 0.8%. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.24%   retreated 1%. Stocks ticked up in Malaysia /zigman2/quotes/210598052/delayed MY:FBMKLCI -0.28%  , but fell in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 -0.14%  , Singapore /zigman2/quotes/210597985/delayed SG:STI +0.36%   and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX +0.40%  . Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.11%   tumbled 2.3%.

Among individual stocks, SoftBank /zigman2/quotes/207303954/delayed JP:9984 -0.08%  , Sony /zigman2/quotes/201361720/delayed JP:6758 +0.05%  and Inpex /zigman2/quotes/206689846/delayed JP:1605 +2.66%  dropped in Tokyo trading. In Hong Kong, AAC /zigman2/quotes/201441510/delayed HK:2018 -0.81%   and Sunny Optical /zigman2/quotes/206687505/delayed HK:2382 -0.31%   fell, along with China Mobile /zigman2/quotes/200868736/delayed HK:941 +0.79%  . Samsung /zigman2/quotes/209800866/delayed KR:005930 +0.17%   declined in South Korea, while Beach Energy /zigman2/quotes/200513631/delayed AU:BPT +1.14%   and Rio Tinto /zigman2/quotes/200083756/delayed AU:RIO -0.85%   fell in Australia.

“The picture is not a good one,” Jeffrey Halley, senior Asia-Pacific market analyst at Oanda, wrote in a note. “Asian stocks will continue to remain under pressure, remaining acutely vulnerable to new negative virus headlines. Europe is to some extent, still playing virus catch-up, with European stock likely to endure a harsh morning session.”

New cases continued to rise sharply in South Korea, where the first U.S. soldier tested positive for the COVID-19 illness. More than 1,100 cases have been confirmed in South Korea, with at least 11 deaths, according to the Associated Press.

China, the epicenter of the outbreak, continued to add new cases — though at a slower pace in recent days — with more than 78,000 total cases and 2,700 deaths. But concern grew about outbreaks away from Asia, from Iran to Italy to the Canary Islands.

Dr. Nancy Messonnier of the U.S. Centers for Disease Control and Prevention said it’s just a matter of time before the virus impacts the U.S. “It’s not so much a question of if this will happen anymore, but rather more a question of exactly when this will happen — and how many people in this country will have severe illness,” she said.

U.S. stocks closed Tuesday with the Dow registering its worst two-day loss on record. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.10%   slid 879.44 points, 3.2%, to settle at 27,081.3, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.34%   lost 97.68 points, 3%, to close at 3,128.21. The Nasdaq Composite /zigman2/quotes/210598365/realtime COMP +0.37%   fell below 9,000, shedding 255.67 points, or 2.8%, to end at 8,965.61.

After settling at two-week lows Tuesday, West Texas Intermediate crude for April delivery   rose to $50.26 per barrel in electronic trading, while Brent crude, the global benchmark  , ticked up to $55.25 a barrel.

The dollar /zigman2/quotes/210561789/realtime/sampled USDJPY -0.0143%   edged up to 99.12 Japanese yen.

/zigman2/quotes/210597971/delayed
JP : Nikkei
23,516.59
+42.32 +0.18%
Volume: 0.00
Oct. 23, 2020 3:15p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
24,918.78
+132.65 +0.54%
Volume: 2.37M
Oct. 23, 2020 4:08p
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,278.00
-34.50 -1.04%
Volume: 17.42B
Oct. 23, 2020 3:01p
loading...
/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
2,200.56
-42.68 -1.90%
Volume: 30.24B
Oct. 23, 2020 3:00p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,360.81
+5.76 +0.24%
Volume: 890,384
Oct. 23, 2020 3:30p
loading...
/zigman2/quotes/210598052/delayed
MY : Malaysia
1,494.64
-4.16 -0.28%
Volume: 0.00
Oct. 23, 2020 5:05p
loading...
/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
12,898.82
-18.21 -0.14%
Volume: 0.00
Oct. 23, 2020 1:31p
loading...
/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
2,537.39
+8.98 +0.36%
Volume: 0.00
Oct. 23, 2020 5:20p
loading...
/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
5,112.19
+20.37 +0.40%
Volume: 0.00
Oct. 23, 2020 3:00p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,167.00
-6.80 -0.11%
Volume: 400.00
Oct. 26, 2020 8:57a
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/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 7,082.00
-6.00 -0.08%
Volume: 9.33M
Oct. 23, 2020 3:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
¥13785.08 billion
Rev. per Employee
¥126.96M
loading...
/zigman2/quotes/201361720/delayed
JP : Japan: Tokyo
¥ 7,820.00
+4.00 +0.05%
Volume: 3.16M
Oct. 23, 2020 3:00p
P/E Ratio
14.80
Dividend Yield
0.64%
Market Cap
¥9551.59 billion
Rev. per Employee
¥72.37M
loading...
/zigman2/quotes/206689846/delayed
JP : Japan: Tokyo
¥ 540.40
+14.00 +2.66%
Volume: 5.59M
Oct. 23, 2020 3:00p
P/E Ratio
N/A
Dividend Yield
4.44%
Market Cap
¥789.09 billion
Rev. per Employee
¥291.81M
loading...
/zigman2/quotes/201441510/delayed
HK : Hong Kong
HK$ 43.00
-0.35 -0.81%
Volume: 5.23M
Oct. 23, 2020 4:08p
P/E Ratio
26.37
Dividend Yield
0.23%
Market Cap
HK$51.97 billion
Rev. per Employee
HK$411,637
loading...
/zigman2/quotes/206687505/delayed
HK : Hong Kong
HK$ 128.00
-0.40 -0.31%
Volume: 3.07M
Oct. 23, 2020 4:08p
P/E Ratio
29.36
Dividend Yield
0.63%
Market Cap
HK$140.04 billion
Rev. per Employee
HK$1.08M
loading...
/zigman2/quotes/200868736/delayed
HK : Hong Kong
HK$ 50.90
+0.40 +0.79%
Volume: 13.83M
Oct. 23, 2020 4:08p
P/E Ratio
8.89
Dividend Yield
6.39%
Market Cap
HK$1042.20 billion
Rev. per Employee
HK$1.88M
loading...
/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
60,200.00
+100.00 +0.17%
Volume: 9.32M
Oct. 23, 2020 3:30p
P/E Ratio
18.83
Dividend Yield
2.35%
Market Cap
₩403240.81 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200513631/delayed
AU : Australia: Sydney
$ 1.34
+0.02 +1.14%
Volume: 5.21M
Oct. 23, 2020 4:10p
P/E Ratio
6.09
Dividend Yield
1.50%
Market Cap
$3.04 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200083756/delayed
AU : Australia: Sydney
$ 95.40
-0.82 -0.85%
Volume: 959,786
Oct. 23, 2020 4:10p
P/E Ratio
14.53
Dividend Yield
5.94%
Market Cap
$140.07 billion
Rev. per Employee
$1.14M
loading...
/zigman2/quotes/210598065/realtime
US : Dow Jones Global
28,335.57
-28.09 -0.10%
Volume: 350.10M
Oct. 23, 2020 5:15p
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,465.39
+11.90 +0.34%
Volume: 2.16B
Oct. 23, 2020 5:15p
loading...
/zigman2/quotes/210598365/realtime
US : U.S.: Nasdaq
11,548.28
+42.28 +0.37%
Volume: 2.88M
Oct. 23, 2020 5:16p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
104.7190
-0.0150 -0.0143%
Volume: 0.0000
Oct. 25, 2020 7:06p
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