Asian Exchanges fell to the lowest in seven weeks on Thursday. Economists lowered their growth prospects as some companies stopped their operations due to the ongoing fatal epidemic in China.
Japan stocks fell around 1.5 percent, while losses were experienced in Korea, Hong Kong and Australia. The return of Taywan stock exchange fell more than 4 percent.
In China, due to the new type of coronavirus (2019-nCoV) epidemic, which is effective in all cities, states, autonomous regions and special administrative regions across the country, the loss of lives increased to 170 and the number of infected people reached 7 thousand 711. While the number of people suspected of carrying the virus was announced as 12 thousand 167, 81 thousand 947 were taken under observation because of their contact with people diagnosed with coronavirus.
“The coronavirus is an important issue, but there is an environment of uncertainty. The virus will most likely affect economic activity in China. Fed’s Powell is very close to the effects of the virus in China.” “The macroeconomic effects of coronavirus are uncertain. But it is clear that they will have an impact on the Chinese economy in the near future.”
Index Summaries
– The MSCI Asia Pacific Index fell 1.7 percent to its biggest loss since August.
Japan’s Topix Index fell 1.5 percent.
Hong Kong Hang Seng Index fell 2.3 percent.
Australia’s S & P / ASX 200 Index fell 0.3 percent.
South Korea’s Kospi Index decreased by 2 percent.
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