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Feb. 13, 2020, 2:10 a.m. EST

Asian markets pressured as number of new COVID-19 cases spikes in China

Nikkei, Hang Seng retreat amid new uncertainty about outbreak

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By Marketwatch


Getty Images
A woman wears a protective mask as she walks to collect her train ticket at a nearly empty Beijing Station.

Asian markets came under pressure Thursday as the number of new coronavirus outbreak victims soared in China.

China’s Hubei province reported nearly 15,000 new cases of COVID-19 due to a change in diagnosis methodology, according to a statement by Hubei officials, which was reported by other media outlets such as the New York Times . Chinese officials said the change was made so that more patients could receive treatment, but the new numbers threw more uncertainty at the severity of the outbreak and China’s ability to contain it.

“The China announcement has shaken Asia’s confidence this morning” and “has poured a sizeable cold bucket of reality onto investors,” Jeffrey Halley, senior Asia-Pacific market analyst at Oanda, wrote in a note. “The argument that it was a one-off adjustment versus the integrity of China’s data collection has left Asian stock markets in somewhat of a limbo.”

Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK +0.88%   retreated 0.1% while Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -0.47%   slipped 0.2%. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -0.04%   declined 0.6% and the Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +0.17%   fell 0.6%. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.36%   advanced 0.3%, while benchmark indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 -0.32%  , Singapore /zigman2/quotes/210597985/delayed SG:STI -0.03%  , Malaysia /zigman2/quotes/210598052/delayed MY:FBMKLCI +1.19%   and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX -0.51%   were mostly lower. Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +1.78%   inched up 0.2%.

Among individual stocks, SoftBank /zigman2/quotes/207303954/delayed JP:9984 -0.25%   and Nissan /zigman2/quotes/208298710/delayed JP:7201 +1.26%   fell in Tokyo trading, while Honda /zigman2/quotes/200490352/delayed JP:7267 +1.90%   and Inpex /zigman2/quotes/206689846/delayed JP:1605 +4.07%   rose. In Hong Kong, Country Garden /zigman2/quotes/201681083/delayed HK:2007 -1.06%   and Tencent /zigman2/quotes/204605823/delayed HK:700 -1.59%   advanced, while CSPC Pharmaceutical /zigman2/quotes/200847219/delayed HK:1093 -1.43%   and China Life Insurance /zigman2/quotes/202359856/delayed HK:2628 -0.24%   fell. Samsung /zigman2/quotes/209800866/delayed KR:005930 +0.49%  rose in South Korea, while Beach Energy /zigman2/quotes/200513631/delayed AU:BPT +2.50%   sank in Australia.

On Wednesday, U.S. stocks ended higher, with all three major benchmarks registering all-time closing highs. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +1.85%   rose 275.08 points, or 0.9%, to end at 29,551.42, while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.95%   added 21.70 points or 0.7%, to finish at 3,379.45. The Nasdaq Composite Index /zigman2/quotes/210598365/realtime COMP +1.55%   ended at 9,725.96, a gain of 87.02 points, or 0.9%.

Dow Jones Industrial Average /zigman2/quotes/210407078/delayed YM00 +0.33%  futures were down 119 points, or 0.4%, to 29,405.

Benchmark crude oil   was flat $51.14 a barrel. Brent crude oil   , the international benchmark, slipped 0.3% to $55.63 a barrel.

The dollar /zigman2/quotes/210561789/realtime/sampled USDJPY +0.0111%   fell 0.3% to 109.76 Japanese yen from 109.89 yen on Wednesday.

/zigman2/quotes/210597971/delayed
JP : Nikkei
29,118.91
+254.59 +0.88%
Volume: 0.00
March 8, 2021 9:13a
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
29,098.29
-138.50 -0.47%
Volume: 4.00M
March 5, 2021 4:09p
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,501.99
-1.50 -0.04%
Volume: 35.64B
March 5, 2021 3:01p
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/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
2,298.60
+3.93 +0.17%
Volume: 38.05B
March 5, 2021 3:00p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
3,037.15
+10.89 +0.36%
Volume: 140,113
March 8, 2021 9:13a
loading...
/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
15,855.23
-51.18 -0.32%
Volume: 0.00
March 5, 2021 1:33p
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/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
3,013.85
-0.93 -0.03%
Volume: 0.00
March 5, 2021 5:20p
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/zigman2/quotes/210598052/delayed
MY : Malaysia
1,600.12
+18.86 +1.19%
Volume: 0.00
March 5, 2021 5:05p
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/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
6,258.75
-32.05 -0.51%
Volume: 0.00
March 5, 2021 3:00p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,830.50
+119.70 +1.78%
Volume: 227,052
March 8, 2021 11:13a
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/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 10,030.00
-25.00 -0.25%
Volume: 1.91M
March 8, 2021 9:13a
P/E Ratio
12.97
Dividend Yield
0.00%
Market Cap
¥18115.54 billion
Rev. per Employee
¥76.45M
loading...
/zigman2/quotes/208298710/delayed
JP : Japan: Tokyo
¥ 611.80
+7.60 +1.26%
Volume: 3.40M
March 8, 2021 9:13a
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
¥2364.32 billion
Rev. per Employee
¥71.69M
loading...
/zigman2/quotes/200490352/delayed
JP : Japan: Tokyo
¥ 3,160.00
+59.00 +1.90%
Volume: 1.13M
March 8, 2021 9:13a
P/E Ratio
13.16
Dividend Yield
2.59%
Market Cap
¥5354.33 billion
Rev. per Employee
¥68.28M
loading...
/zigman2/quotes/206689846/delayed
JP : Japan: Tokyo
¥ 844.00
+33.00 +4.07%
Volume: 3.73M
March 8, 2021 9:13a
P/E Ratio
N/A
Dividend Yield
3.20%
Market Cap
¥1184.23 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/201681083/delayed
HK : Hong Kong
HK$ 9.29
-0.10 -1.06%
Volume: 25.65M
March 5, 2021 4:08p
P/E Ratio
4.88
Dividend Yield
6.52%
Market Cap
HK$201.99 billion
Rev. per Employee
HK$3.60M
loading...
/zigman2/quotes/204605823/delayed
HK : Hong Kong
HK$ 679.00
-11.00 -1.59%
Volume: 27.14M
March 5, 2021 4:08p
P/E Ratio
48.38
Dividend Yield
0.18%
Market Cap
HK$6459.37 billion
Rev. per Employee
HK$6.80M
loading...
/zigman2/quotes/200847219/delayed
HK : Hong Kong
HK$ 8.28
-0.12 -1.43%
Volume: 69.99M
March 5, 2021 4:08p
P/E Ratio
21.53
Dividend Yield
0.00%
Market Cap
HK$99.01 billion
Rev. per Employee
HK$1.45M
loading...
/zigman2/quotes/202359856/delayed
HK : Hong Kong
HK$ 16.36
-0.04 -0.24%
Volume: 45.52M
March 5, 2021 4:08p
P/E Ratio
8.15
Dividend Yield
4.89%
Market Cap
HK$953.72 billion
Rev. per Employee
HK$7.83M
loading...
/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
82,500.00
+400.00 +0.49%
Volume: 2.33M
March 8, 2021 9:13a
P/E Ratio
21.48
Dividend Yield
1.72%
Market Cap
₩549531.63 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200513631/delayed
AU : Australia: Sydney
$ 1.74
+0.04 +2.50%
Volume: 3.36M
March 8, 2021 11:13a
P/E Ratio
11.35
Dividend Yield
1.15%
Market Cap
$3.87 billion
Rev. per Employee
N/A
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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/210407078/delayed
US : U.S.: CBOT
$ 31,570.00
+105.00 +0.33%
Volume: 9,039
March 7, 2021 6:23p
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/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
108.3920
+0.0120 +0.0111%
Volume: 0.0000
March 7, 2021 7:33p
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