Stocks in Asia dropped on Monday as investors weighed the potential impact of recent spikes in coronavirus cases.
In Tokyo, the Nikkei 225 plummeted 774.53 points, or 3.5%, to 21,530.95.
The Japanese yen traded at 107.35 per U.S. dollar following a strengthening from levels above 108 last week.
The Hang Seng index in Hong Kong lost 524.43 points, or 2.7%, to 23,776.95.
The Australian dollar changed hands at $0.6811 after last week’s slip from levels above $0.693.
CHINA
In Shanghai, the CSI 300 dropped 48.09 points, or 1.2%, to 3,954.99.
Developments surrounding the coronavirus pandemic likely continued to be watched by investors on Monday.
A district in the Chinese capital of Beijing was in a “wartime emergency” after a cluster of infections was found centered around a wholesale market, according to Reuters. Stateside, Texas and North Carolina also reported a record number of virus-related hospitalizations on Saturday.
Meanwhile, Chinese economic data for May released Monday missed expectations. Industrial production in the country for that month rose 4.4% year-on-year, less than expectations of a 5% increase by analysts. Retail sales declined 2.8% year-on-year in May, worse than expectations of a 2% decrease per analyst expectations.
In other markets
In Korea, the Kospi collapsed 101.48 points, or 4.8%, to 2,030.82
In Taiwan, the Taiex index flopped 123.68 points, or 1.1%, to 11,306.26
In Singapore, the Straits Times Index let go of 70.75 points, or 2.6%, to 2,613.88.
In New Zealand, the NZX 50 dumped 41.83 points, or 0.4%, to 10,864.12
In Australia, the ASX 200 pointed downward 127.98 points, or 2.2%, to 5,719.83.
