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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 -0.42%   sank 0.7%, and Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -1.54%   dipped 0.5%. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -2.24%   edged up 0.3%, while the smaller-cap Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 -3.19%   fell 0.8%. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 -1.00%   retreated 1%. Stocks ticked up in Malaysia /zigman2/quotes/210598052/delayed MY:FBMKLCI +1.44%  , but fell in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 -0.22%  , Singapore /zigman2/quotes/210597985/delayed SG:STI +1.95%   and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX -0.03%  . Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.43%   tumbled 2.3%.

Among individual stocks, SoftBank /zigman2/quotes/207303954/delayed JP:9984 -2.36%  , Sony /zigman2/quotes/201361720/delayed JP:6758 -1.74%  and Inpex /zigman2/quotes/206689846/delayed JP:1605 +4.56%  dropped in Tokyo trading. In Hong Kong, AAC /zigman2/quotes/201441510/delayed HK:2018 -3.85%   and Sunny Optical /zigman2/quotes/206687505/delayed HK:2382 -7.37%   fell, along with China Mobile /zigman2/quotes/200868736/delayed HK:941 +0.09%  . Samsung /zigman2/quotes/209800866/delayed KR:005930 -0.12%   declined in South Korea, while Beach Energy /zigman2/quotes/200513631/delayed AU:BPT +4.12%   and Rio Tinto /zigman2/quotes/200083756/delayed AU:RIO +2.91%   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 +1.85%   slid 879.44 points, 3.2%, to settle at 27,081.3, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.95%   lost 97.68 points, 3%, to close at 3,128.21. The Nasdaq Composite /zigman2/quotes/210598365/realtime COMP +1.55%   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 +0.0424%   edged up to 99.12 Japanese yen.

/zigman2/quotes/210597971/delayed
JP : Nikkei
28,743.25
-121.07 -0.42%
Volume: 0.00
March 8, 2021 3:15p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
28,651.45
-446.84 -1.54%
Volume: 3.72M
March 8, 2021 2:54p
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,423.72
-78.27 -2.24%
Volume: 37.69B
March 8, 2021 2:54p
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/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
2,225.30
-73.29 -3.19%
Volume: 39.27B
March 8, 2021 2:54p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,996.11
-30.15 -1.00%
Volume: 1.90M
March 8, 2021 3:32p
loading...
/zigman2/quotes/210598052/delayed
MY : Malaysia
1,623.20
+23.08 +1.44%
Volume: 0.00
March 8, 2021 2:54p
loading...
/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
15,820.11
-35.12 -0.22%
Volume: 0.00
March 8, 2021 1:33p
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/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
3,072.55
+58.70 +1.95%
Volume: 0.00
March 8, 2021 2:54p
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/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
6,256.96
-1.79 -0.03%
Volume: 0.00
March 8, 2021 1:59p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,739.60
+28.80 +0.43%
Volume: 609,636
March 8, 2021 5:16p
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/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 9,818.00
-237.00 -2.36%
Volume: 16.22M
March 8, 2021 3:00p
P/E Ratio
12.70
Dividend Yield
0.00%
Market Cap
¥18115.54 billion
Rev. per Employee
¥76.45M
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/zigman2/quotes/201361720/delayed
JP : Japan: Tokyo
¥ 11,020.00
-195.00 -1.74%
Volume: 4.67M
March 8, 2021 3:00p
P/E Ratio
12.78
Dividend Yield
0.50%
Market Cap
¥13866.09 billion
Rev. per Employee
¥73.75M
loading...
/zigman2/quotes/206689846/delayed
JP : Japan: Tokyo
¥ 848.00
+37.00 +4.56%
Volume: 24.17M
March 8, 2021 3:00p
P/E Ratio
N/A
Dividend Yield
3.18%
Market Cap
¥1184.23 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/201441510/delayed
HK : Hong Kong
HK$ 41.20
-1.65 -3.85%
Volume: 11.44M
March 8, 2021 2:54p
P/E Ratio
25.26
Dividend Yield
0.24%
Market Cap
HK$51.78 billion
Rev. per Employee
HK$514,884
loading...
/zigman2/quotes/206687505/delayed
HK : Hong Kong
HK$ 174.70
-13.90 -7.37%
Volume: 6.96M
March 8, 2021 2:54p
P/E Ratio
40.07
Dividend Yield
0.46%
Market Cap
HK$206.35 billion
Rev. per Employee
HK$2.13M
loading...
/zigman2/quotes/200868736/delayed
HK : Hong Kong
HK$ 56.90
+0.05 +0.09%
Volume: 84.47M
March 8, 2021 2:54p
P/E Ratio
9.94
Dividend Yield
5.72%
Market Cap
HK$1164.03 billion
Rev. per Employee
HK$1.85M
loading...
/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
82,000.00
-100.00 -0.12%
Volume: 16.73M
March 8, 2021 3:30p
P/E Ratio
21.35
Dividend Yield
1.73%
Market Cap
₩549531.63 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200513631/delayed
AU : Australia: Sydney
$ 1.77
+0.07 +4.12%
Volume: 13.10M
March 8, 2021 4:10p
P/E Ratio
11.53
Dividend Yield
1.13%
Market Cap
$3.87 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200083756/delayed
AU : Australia: Sydney
$ 121.11
+3.43 +2.91%
Volume: 1.03M
March 8, 2021 4:10p
P/E Ratio
14.11
Dividend Yield
5.07%
Market Cap
$175.22 billion
Rev. per Employee
$1.36M
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
31,496.30
+572.16 +1.85%
Volume: 505.35M
March 5, 2021 5:44p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,841.94
+73.47 +1.95%
Volume: 3.33B
March 5, 2021 5:44p
loading...
/zigman2/quotes/210598365/realtime
US : U.S.: Nasdaq
12,920.15
+196.68 +1.55%
Volume: 6.71M
March 5, 2021 5:16p
loading...
/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
108.4260
+0.0460 +0.0424%
Volume: 0.0000
March 8, 2021 2:09a
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