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Jan. 23, 2020, 3:56 a.m. EST

China stocks slide 3%, leading sharp losses for Asia as coronavirus spreads

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By MarketWatch, MarketWatch


AP
Health surveillance officer use temperature scanner to monitor passengers arriving at the Hong Kong International airport in Hong Kong this month.

Chinese stocks led sharp losses across Asia on Thursday as the spread of the coronavirus that originated in Wuhan, China, spooked investors ahead of Saturday’s Lunar New Year holiday.

Coronavirus infections have more than doubled. Here’s how the mysterious illness from China spreads so quickly.

The Hang Seng index /zigman2/quotes/210598030/delayed HK:HSI +0.40%  fell 1.5%, while the Shenzhen Composite was off /zigman2/quotes/210598015/delayed CN:399106 +0.50%  closed down 3.4%. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +0.07%   fell 2.7% and the CSI 300 /zigman2/quotes/210598128/delayed XX:000300 +0.18%  lost 3%.

See how the stock market has performed during other virus outbreaks.

Japan’s Nikkei index /zigman2/quotes/210597971/delayed JP:NIK -0.22%  closed down nearly 1%, weighed by disappointing trade news. Japan’s exports fell 6.3% on year in December, declining for the 13th consecutive month, according to data released by the Ministry of Finance on Thursday.

That marked the second straight year of red ink in trade for last year, hurt by a slowdown of demand in China. China’s trade tensions with the U.S. has hurt Japan’s trade, with Japan’s exports for 2019 falling 5.6% from the previous year, while imports fell 5.0%.

Japan had a trade surplus of 6.6 trillion yen ($60 billion) with the U.S. last year, as exports fell 1.4% from 2018, and imports fell 4.4%.

Australia’s S&P/ASX 200 benchmark index /zigman2/quotes/210598100/delayed AU:XJO +0.28%   fell 0.6% despite positive data on jobs. Thursday data showed the country notching 28,900 new jobs in December, well above expectations. However, Ernst & Young chief economist Jo Masters says all the jobs growth was in part-time employment and, importantly, the pace of job creation is slowing. On average, the economy created 14,500 jobs a month in 4Q 2019, down from 27,100 3Q 2019.

The story was compiled from Dow Jones Newswires and Associated Press reports.

/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
26,835.92
+107.42 +0.40%
Volume: 3.21M
Dec. 4, 2020 4:08p
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/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
2,301.83
+11.50 +0.50%
Volume: 31.85B
Dec. 4, 2020 3:00p
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,444.58
+2.45 +0.07%
Volume: 25.63B
Dec. 4, 2020 3:01p
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/zigman2/quotes/210598128/delayed
XX : China Securities Index
5,065.92
+8.86 +0.18%
Volume: 14.43B
Dec. 4, 2020 3:00p
loading...
/zigman2/quotes/210597971/delayed
JP : Nikkei
26,751.24
-58.13 -0.22%
Volume: 0.00
Dec. 4, 2020 3:15p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,634.10
+18.80 +0.28%
Volume: 612,052
Dec. 4, 2020 5:31p
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