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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 -0.92%   sank 0.7%, and Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.59%   dipped 0.5%. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +0.78%   edged up 0.3%, while the smaller-cap Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +1.15%   fell 0.8%. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 -0.60%   retreated 1%. Stocks ticked up in Malaysia /zigman2/quotes/210598052/delayed MY:FBMKLCI +0.06%  , but fell in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 -2.99%  , Singapore /zigman2/quotes/210597985/delayed SG:STI +0.81%   and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX -1.76%  . Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.13%   tumbled 2.3%.

Among individual stocks, SoftBank /zigman2/quotes/207303954/delayed JP:9984 -1.14%  , Sony /zigman2/quotes/201361720/delayed JP:6758 +1.03%  and Inpex /zigman2/quotes/206689846/delayed JP:1605 +0.13%  dropped in Tokyo trading. In Hong Kong, AAC /zigman2/quotes/201441510/delayed HK:2018 +0.47%   and Sunny Optical /zigman2/quotes/206687505/delayed HK:2382 +2.37%   fell, along with China Mobile /zigman2/quotes/200868736/delayed HK:941 +0.51%  . Samsung /zigman2/quotes/209800866/delayed KR:005930 -0.62%   declined in South Korea, while Beach Energy /zigman2/quotes/200513631/delayed AU:BPT +1.19%   and Rio Tinto /zigman2/quotes/200083756/delayed AU:RIO +0.49%   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 -0.39%   slid 879.44 points, 3.2%, to settle at 27,081.3, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.48%   lost 97.68 points, 3%, to close at 3,128.21. The Nasdaq Composite /zigman2/quotes/210598365/realtime COMP -0.90%   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 -0.1728%   edged up to 99.12 Japanese yen.

/zigman2/quotes/210597971/delayed
JP : Nikkei
27,824.83
-259.64 -0.92%
Volume: 0.00
May 17, 2021 3:15p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
28,194.09
+166.52 +0.59%
Volume: 1.86M
May 17, 2021 4:08p
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/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,517.62
+27.24 +0.78%
Volume: 32.21B
May 17, 2021 3:01p
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/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
2,320.33
+26.46 +1.15%
Volume: 36.84B
May 17, 2021 3:00p
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/zigman2/quotes/210598069/delayed
KR : Korea Exchange
3,134.52
-18.80 -0.60%
Volume: 771,305
May 17, 2021 3:32p
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/zigman2/quotes/210598052/delayed
MY : Malaysia
1,583.46
+0.94 +0.06%
Volume: 0.00
May 17, 2021 5:05p
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/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
15,353.89
-473.20 -2.99%
Volume: 0.00
May 17, 2021 1:33p
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/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
3,079.69
+24.67 +0.81%
Volume: 0.00
May 17, 2021 5:20p
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/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
5,833.86
-104.49 -1.76%
Volume: 0.00
May 17, 2021 3:00p
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/zigman2/quotes/210598100/delayed
AU : S&P ASX
7,023.60
+9.40 +0.13%
Volume: 453,249
May 17, 2021 4:58p
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/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 8,431.00
-97.00 -1.14%
Volume: 14.31M
May 17, 2021 3:00p
P/E Ratio
3.47
Dividend Yield
0.00%
Market Cap
¥12109.99 billion
Rev. per Employee
N/A
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/zigman2/quotes/201361720/delayed
JP : Japan: Tokyo
¥ 10,330.00
+105.00 +1.03%
Volume: 3.32M
May 17, 2021 3:00p
P/E Ratio
11.02
Dividend Yield
0.58%
Market Cap
¥12642.07 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/206689846/delayed
JP : Japan: Tokyo
¥ 799.00
+1.00 +0.13%
Volume: 7.85M
May 17, 2021 3:00p
P/E Ratio
N/A
Dividend Yield
4.13%
Market Cap
¥1165.24 billion
Rev. per Employee
¥243.77M
loading...
/zigman2/quotes/201441510/delayed
HK : Hong Kong
HK$ 42.75
+0.20 +0.47%
Volume: 9.40M
May 17, 2021 4:08p
P/E Ratio
30.19
Dividend Yield
0.70%
Market Cap
HK$51.42 billion
Rev. per Employee
HK$570,931
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/zigman2/quotes/206687505/delayed
HK : Hong Kong
HK$ 172.50
+4.00 +2.37%
Volume: 6.14M
May 17, 2021 4:08p
P/E Ratio
34.31
Dividend Yield
0.61%
Market Cap
HK$184.35 billion
Rev. per Employee
HK$1.75M
loading...
/zigman2/quotes/200868736/delayed
HK : Hong Kong
HK$ 48.80
+0.25 +0.51%
Volume: 26.65M
May 17, 2021 4:08p
P/E Ratio
8.25
Dividend Yield
6.74%
Market Cap
HK$994.08 billion
Rev. per Employee
HK$1.90M
loading...
/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
79,600.00
-500.00 -0.62%
Volume: 17.74M
May 17, 2021 3:30p
P/E Ratio
20.72
Dividend Yield
1.81%
Market Cap
₩538990.97 billion
Rev. per Employee
₩2.16B
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/zigman2/quotes/200513631/delayed
AU : Australia: Sydney
$ 1.28
+0.02 +1.19%
Volume: 6.36M
May 17, 2021 4:10p
P/E Ratio
8.34
Dividend Yield
1.56%
Market Cap
$2.88 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/200083756/delayed
AU : Australia: Sydney
$ 126.04
+0.61 +0.49%
Volume: 636,862
May 17, 2021 4:10p
P/E Ratio
14.68
Dividend Yield
4.87%
Market Cap
$185.19 billion
Rev. per Employee
$1.36M
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
34,248.16
-133.97 -0.39%
Volume: 122.17M
May 17, 2021 12:17p
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/zigman2/quotes/210599714/realtime
US : S&P US
4,153.65
-20.20 -0.48%
Volume: 959.58M
May 17, 2021 12:17p
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/zigman2/quotes/210598365/realtime
US : Nasdaq
13,308.52
-121.46 -0.90%
Volume: 1.81M
May 17, 2021 12:17p
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/zigman2/quotes/210561789/realtime/sampled
US : Tullett Prebon
109.1590
-0.1890 -0.1728%
Volume: 0.0000
May 17, 2021 12:17p
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