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Asian stocks drop as China’s containment plan puts Wuhan city in lockdown
Asian stocks had dropped on Thursday morning after China issued a travel suspension in the entire city of Wuhan to prevent the spread of the Coronavirus.
Both the Shanghai Composite and the Shenzhen Component fell by 0.5% at 10:30 PM ET (02:30 GMT). Hong Kong’s Hang Seng Index had also slipped down by 0.9%.
China’s move for a travel ban to the city of nearly 11 million is its latest attempt to stem the spread of the deadly virus that has resulted in the death of at least 17 people while infecting hundreds more in China, the United States, Thailand, Taiwan, Japan, and the Republic of Korea, according to WHO and the Chinese state media.
Japan’s Nikkei 225 had also slipped by 0.5% while its exports dropped by 6.3% in December last year. Imports had also fallen by 4.9% in the year to December compared to an analyst forecast of a 3.4% decrease.
South Korea’s KOSPI also tumbled 0.5%.
On Friday, the Chinese technology company ByteDance said that it would consider listing its domestic businesses in Hong Kong or Shanghai due to rising Sino-U.S. tensions. The company's standalone listing in Hong Kong or Shanghai might value ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
June had seen Japan’s industrial output breaking its four-month slump. The recuperation could be attributed to a modest recovery seen in broader business and consumer activity after the world’s third-biggest economy suffered from ...
Asian stocks advanced on the prospect of ultra-easy monetary policy as the U.S. Federal Reserve kept interest rates near zero. Fed deemed it necessary to salvage the ailing economy, dragging the dollar down to a two-year low. The target range ...
On Wednesday, European stocks rose slightly after mixed earnings reports. However, the new wave of the coronavirus outbreak kept investors cautious while they also wait for the U.S. Federal Reserve’s announcement. The Stoxx Europe 600 ...
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