Stocks made a barely positive start in early Asian trade on Friday after the world's health body called it a little too early to declare a coronavirus outbreak a global emergency.
24 Jan 2020 09:25AM
(Updated: 24 Jan 2020 10:10AM)
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TOKYO: Stocks made a barely positive start in early Asian trade on Friday after the world's health body called it a little too early to declare a coronavirus outbreak a global emergency.
But worries over rapid spread of the deadly virus kept investors on guard as millions of Chinese travel during the Lunar New Year holiday period.
MSCI's broadest index of Asia-Pacific shares outside Japan rose a marginal 0.1per cent, while Japan's Nikkei stood flat and Australian stocks added 0.4per cent.
Trade in Asia is already slowing down for the Lunar New Year holiday, with financial markets in China, Taiwan and South Korea closed on Friday.
Key indices on Wall Street bounced from lows after the World Health Organisation (WHO) said the latest coronavirus did not yet constitute a global public health emergency.
The Nasdaq Composite rose 0.2per cent to a record closing high, while the S&P 500 added 0.1per cent and the Dow Jones Industrial Average eased 0.1per cent.
The WHO called a new coronavirus that has killed 18 people in China and infected around 650 globally "an emergency in China" on Thursday, but stopped short of declaring the epidemic of international concern.
"Investors are worried that the outbreak of coronavirus will dampen consumption in China when the ChineseRead More – Source