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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 -0.67%   sank 0.7%, and Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -2.27%   dipped 0.5%. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -1.45%   edged up 0.3%, while the smaller-cap Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 -1.85%   fell 0.8%. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 -0.12%   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 -0.74%  , Singapore /zigman2/quotes/210597985/delayed SG:STI -0.99%   and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX -1.06%  . Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO -0.71%   tumbled 2.3%.

Among individual stocks, SoftBank /zigman2/quotes/207303954/delayed JP:9984 -0.81%  , Sony /zigman2/quotes/201361720/delayed JP:6758 +0.76%  and Inpex /zigman2/quotes/206689846/delayed JP:1605 +5.28%  dropped in Tokyo trading. In Hong Kong, AAC /zigman2/quotes/201441510/delayed HK:2018 -3.84%   and Sunny Optical /zigman2/quotes/206687505/delayed HK:2382 -3.86%   fell, along with China Mobile /zigman2/quotes/200868736/delayed HK:941 -0.65%  . Samsung /zigman2/quotes/209800866/delayed KR:005930 -1.55%   declined in South Korea, while Beach Energy /zigman2/quotes/200513631/delayed AU:BPT +1.05%   and Rio Tinto /zigman2/quotes/200083756/delayed AU:RIO -3.36%   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 +0.68%   slid 879.44 points, 3.2%, to settle at 27,081.3, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.64%   lost 97.68 points, 3%, to close at 3,128.21. The Nasdaq Composite /zigman2/quotes/210598365/realtime COMP +1.00%   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 +0.0303%   edged up to 99.12 Japanese yen.

/zigman2/quotes/210597971/delayed
JP : Nikkei
22,268.18
-149.97 -0.67%
Volume: 0.00
Aug. 7, 2020 1:35p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
24,364.43
-566.15 -2.27%
Volume: 789,326
Aug. 7, 2020 12:05p
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,337.43
-49.03 -1.45%
Volume: 23.76B
Aug. 7, 2020 12:40p
loading...
/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
2,261.91
-42.62 -1.85%
Volume: 30.46B
Aug. 7, 2020 11:30a
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,339.86
-2.75 -0.12%
Volume: 630,204
Aug. 7, 2020 1:35p
loading...
/zigman2/quotes/210598052/delayed
MY : Malaysia
1,584.20
-4.37 -0.28%
Volume: 0.00
Aug. 7, 2020 12:40p
loading...
/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
12,818.28
-95.22 -0.74%
Volume: 0.00
Aug. 7, 2020 12:35p
loading...
/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
2,533.67
-25.43 -0.99%
Volume: 0.00
Aug. 7, 2020 12:40p
loading...
/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
5,123.32
-54.95 -1.06%
Volume: 0.00
Aug. 7, 2020 11:30a
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
5,999.60
-42.60 -0.71%
Volume: 385,762
Aug. 7, 2020 2:35p
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/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 6,495.00
-53.00 -0.81%
Volume: 11.77M
Aug. 7, 2020 1:35p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
¥13634.30 billion
Rev. per Employee
¥126.96M
loading...
/zigman2/quotes/201361720/delayed
JP : Japan: Tokyo
¥ 8,532.00
+64.00 +0.76%
Volume: 3.34M
Aug. 7, 2020 1:35p
P/E Ratio
16.14
Dividend Yield
0.53%
Market Cap
¥10438.34 billion
Rev. per Employee
¥72.37M
loading...
/zigman2/quotes/206689846/delayed
JP : Japan: Tokyo
¥ 669.60
+33.60 +5.28%
Volume: 10.28M
Aug. 7, 2020 1:35p
P/E Ratio
8.43
Dividend Yield
3.58%
Market Cap
¥916.86 billion
Rev. per Employee
¥291.81M
loading...
/zigman2/quotes/201441510/delayed
HK : Hong Kong
HK$ 60.10
-2.40 -3.84%
Volume: 4.64M
Aug. 7, 2020 11:59a
P/E Ratio
29.00
Dividend Yield
0.67%
Market Cap
HK$76.08 billion
Rev. per Employee
HK$411,637
loading...
/zigman2/quotes/206687505/delayed
HK : Hong Kong
HK$ 141.80
-5.70 -3.86%
Volume: 3.82M
Aug. 7, 2020 11:59a
P/E Ratio
34.51
Dividend Yield
0.57%
Market Cap
HK$163.98 billion
Rev. per Employee
HK$1.08M
loading...
/zigman2/quotes/200868736/delayed
HK : Hong Kong
HK$ 53.70
-0.35 -0.65%
Volume: 9.85M
Aug. 7, 2020 11:59a
P/E Ratio
9.13
Dividend Yield
6.05%
Market Cap
HK$1136.39 billion
Rev. per Employee
HK$1.88M
loading...
/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
57,100.00
-900.00 -1.55%
Volume: 13.62M
Aug. 7, 2020 1:35p
P/E Ratio
18.22
Dividend Yield
2.48%
Market Cap
₩380783.86 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200513631/delayed
AU : Australia: Sydney
$ 1.45
+0.02 +1.05%
Volume: 5.24M
Aug. 7, 2020 2:34p
P/E Ratio
5.76
Dividend Yield
1.38%
Market Cap
$3.33 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200083756/delayed
AU : Australia: Sydney
$ 101.95
-3.55 -3.36%
Volume: 963,410
Aug. 7, 2020 2:35p
P/E Ratio
15.53
Dividend Yield
5.55%
Market Cap
$150.97 billion
Rev. per Employee
$1.14M
loading...
/zigman2/quotes/210598065/realtime
US : Dow Jones Global
27,386.98
+185.46 +0.68%
Volume: 323.72M
Aug. 6, 2020 5:08p
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,349.16
+21.39 +0.64%
Volume: 2.41B
Aug. 6, 2020 5:08p
loading...
/zigman2/quotes/210598365/realtime
US : U.S.: Nasdaq
11,108.07
+109.67 +1.00%
Volume: 3.75M
Aug. 6, 2020 5:16p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
105.5810
+0.0320 +0.0303%
Volume: 0.0000
Aug. 7, 2020 12:55a
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