Stocks in Asia remain in sell-mode

Stocks in Asia remain in sell-mode

SYDNEY, Australia – Stocks in Asia remained in sell-mode on Tuesday, a day after stock market falls were felt across the world.

The dollar and the Japanese yen remained well bid.

The coronavirus which has sparked selling in the past week continues to spread. On Tuesday the death toll went past the 100 mark to 106, with the Chinese capital Beijing reporting its first death.

The number of confirmed cases rose to 4,515.

Travellers from around the world are increasingly taking to wearing filter masks. At international airports many travellers, particularly those from Asia, are being seen wearing masks.

The first case of the virus in Germany has emerged, while in the Philippines the government has suspended providing visas to Chinese nationals.

In Australia, stocks fell sharply as the market re-opened for the first time since Friday, because of the Australia Day national holiday on Monday.

The Australian All Ordinaries dropped 103.40 points or 1.44% to 7,099.80.

Across the Tasman, the New Zealand S&P/NZX shed 122.03 points or 1.03% to 11,685.11.

In late afternoon trading in Japan, the benchmark Nikkei 225 was down 0.80%.

Overnight on Wall Street, the Dow Jones industrials gave up 453.93 points or 1.57% to close at 28,535.80.

The Standard and Poor’s 500 dropped 51.84 points or 1.57% to 3,243.63.

The Nasdaq Composite did worst of all of the U.S. stock indices in percentage-terms, falling 175.60 points or 1.89% to 9,139.31.

Published at Tue, 28 Jan 2020 05:35:23 +0000