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Asian stocks tumble as coronavirus continue to haunt markets

Asian stocks tumble as coronavirus continue to haunt markets

Asian shares fell during Friday’s trading, with Japanese stock indexes recording their fourth straight weekly loss, as concerns about the economic damages caused by the fast-spreading Corona virus intensified.

Nikkei 225 index slumped 2.72 percent to 20,749.75, the lowest close since September 4, posting a weekly decline of 1.8 percent, while the broader Topix index slumped 2.9 percent to 1,471.5 points, the lowest close since January

In Hong Kong, the Hang Seng Index decreased 2.25 percent to 26,165.90, while the Shanghai Composite Index closed 1.21 percent down at 3,034.51.

Australia’s S&P/ASX 200 finished 2.81 percent down at 6,216.21 and South Korea’s Kospi index descended 2.16 percent to 2,040.22.

Asian stock indexes fell, with the number of cases of Coved-19 outside China rising, trailing hefty loss among global stocks.

Japanese Prime Minister Shinzo Abe ordered a two-week quarantine for visitors from China and South Korea, hurting the shares of tourism companies.

Regarding coronavirus, the number of new infections in the country reached 143, a slight increase from the previous day record of 139, bringing the total to 80,552, according to figures from China’s National Health Commission.

South Korea also reported 518 new cases and 7 new deaths as of this morning, bringing the total to 6,284 cases and 42 deaths in the country.

US stocks closing

U.S. stock indexes fell at a strong pace at the close of Thursday trading, losing the Dow Jones nearly 970 points, as volatility and concerns about the developments of the Corona crisis continued.

At the close of the session, the Dow Jones Industrial Average was down 3.6 percent at 26,121 points, a loss of 969.6 points.

The S&P 500 fell 3.4 percent to 3,023 points, and the Nasdaq dropped 3.1 percent to 8,738.

Meanwhile, the dollar index, which measures the performance of six major currencies against the US dollar, slumped to a new bottom of 96.18, the lowest level since January 2.

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