Major Asia Pacific markets were mixed on Thursday as investors remained cautious over the fast-spreading new coronavirus that has infected more than 81,000 people and killed over 2,700.
The Nikkei 225 lost 477.96, or 2.1%, to 21,948.23.
The Japanese yen, considered a safe-haven asset, traded at 110.13 versus the U.S. dollar, strengthening from levels above 111.00 earlier in the week.
In Hong Kong, the Hang Seng Index moved forward 82.13 points, or 0.3%, to 26,778.62. Hong Kong-listed shares of Standard Chartered jumped more than 1% despite the lender warning that recent headwinds like the coronavirus outbreak will likely result in income growth in 2020 being below its “medium-term 5-7% target range.”
Korean markets tumbled as the Bank of Korea kept its policy rate unchanged. The central bank surprised markets by holding its benchmark interest rate at 1.25% when analysts were expecting a cut.
That was despite a recent spike in the number of infection cases in the country — jumping from around 31 to over 1,000 in a little more than a week.
On Thursday, South Korea’s Centers for Disease Control and Prevention confirmed 334 more cases, bringing the country’s total to 1,595. South Korea now has the most number of confirmed cases outside China, where the outbreak was first reported.
The South Korean won weakened against the dollar to 1,215.27, from levels near 1,212 before the decision.
Australian markets lost ground, as shares of major banks in the country sold off. The Australian dollar changed hands at $0.6555 after declining from levels around $0.66 yesterday.
CHINA
The CSI 300 regained 11.86 points, or 0.3%, to 4,084.88.
The moves upward on the mainland came as the World Health Organization said Wednesday the number of daily new coronavirus cases outside China exceeded those inside the country for the first time.
Most of the people infected and killed by the disease to-date are from China. However, the number of cases outside the country has surged in recent weeks — especially in places like South Korea, Italy, and Iran. That’s led to global sell-off, including in the U.S. where the S&P 500 wiped out $1.7 trillion in just two sessions.
In other markets
In Taiwan, the Taiex fell 141.45 points, or 1.2%, to 11,292.17
In Korea, the Kospi index slid 21.88 points, or 1.1%, to 2,054.89
In Singapore, the Straits Times Index eased back 5.82 points, or 0.2%, to 3,111.70
In New Zealand, the NZX 50 dumped 96.69 points, or 0.8%, to 11,437.17
In Australia, the ASX 200 skidded 50.2 points, or 0.8%, to 6,657.90
