Markets in mainland China plunge after layoff, but not as much as feared

Markets in mainland China plunged early Monday, on their first day of trading since an extended Lunar New Year holiday that coincided with the rapid spread of the coronavirus outbreak.

Around Asia, early losses were tempered after China’s losses, while steep, were not as bad as some had feared — there had been speculation Chinese stocks would fall 10% or more. Japan’s Nikkei NIK, -0.96% and South Korea’s Kospi 180721, -0.12% fell, along with benchmark indexes in Taiwan Y9999, -1.32% , Singapore STI, -0.95% and Australia XJO, -1.14% . Hong Kong’s Hang Seng Index HSI, -0.10% opened lower but turned positive, as investors apparently approved of the PBoC’s measures.

The Philippines reported Sunday the first coronavirus death outside China, as China raised its death toll to 361. More than 17,200 cases have been diagnosed worldwide, all but about 150 in China. U.S. stock futures inched up late Sunday. Dow Jones Industrial Average futures YM00, +0.57% , S&P 500 futures ES00, +0.60% and Nasdaq futures NQ00, +0.74% were up about 0.6% each, indicating gains when trading starts Monday morning.

1918 influenza epidemic was really bad

Finance Finance Latest News, Finance Finance Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

In Virus-Hit China, Markets Brace for a Fall as Authorities Urge CalmStocks in China are primed for a steep fall Monday when markets in Shanghai and Shenzhen reopen after a week-long closure, even as Chinese authorities try to calm frayed nerves over the fast-spreading Wuhan coronavirus. buy the dip! Everyone knows: Viruses are Seasonal 🥳 You know when your financial adviser told you that China was a life time winner, well enjoy the ride. let china be crushed and the North American folks who invested in modern day slavery savour their losses.
Source: WSJ - 🏆 98. / 63 Read more »

China readies cushion for virus shock when markets re-openChina's central bank has announced plans to inject 1.2 trillion yuan ($173 billion) into the economy to cushion the shock to financial markets from the outbreak of a new virus when trading resumes on Monday after a prolonged Lunar New Year holiday Is this called cheating? Well this is much better than what some of it citizens have been ingesting!!!
Source: ABC - 🏆 471. / 51 Read more »

Asian shares set for rough ride on virus fears, China in focusAsian markets are set for another bumpy ride on Monday on fears about the hit to... Nuk this CoronavirusOutbreak ....
Source: Reuters - 🏆 2. / 97 Read more »