Asian market trades lower amid coronavirus worries

Tuesday, 28. January 2020 07:30

Stocks on Asian markets traded lower on Tuesday with investors watching the possible influence of coronavirus on the economy. Earlier, Japan classified the new virus as a "designated infectious disease," allowing for the compulsory hospitalization of infected people. Also, South Korean Finance Minister Hong Nam-ki stated that his government will be "all-out" to protect citizens and contain the virus spread. The death toll in China from the virus has jumped to 106, while nearly 1,300 new cases have been identified.

Japan's Nikkei 225 and South Korea's Kospi closed 0.55% and 3.08% lower, respectively. Meanwhile, the Australian S&P/ASX 200 went down by 1.35%. Chinese mainland stock markets, the Shanghai Composite, Shenzhen Composite and Hongkong's Hang Seng were closed.

The dollar added 0.12% against the yen to sell for 110.0235 at 7:32 am CET.

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Breaking the News / TF