• Monday, May 27, 2024
businessday logo


Asian stocks down in early trade over Coronavirus spread


Asian stocks opened trading on a bearish note Friday as travel ban on Europe and widespread of the COVID-19 continue to unsettle investors.

All trackers in Asian markets are down except in Australia where the government yesterday announced a $17.6bn stimulus package, Thailand’s THAI SET 50 INDEX which is up 3.47%, and Mongolia’s MSE Top 20 Index up 1.26% as of 7:30 am according to Bloomberg data.

China’s Shanghai composite fell 1.51% and Japan’s benchmark Nikkei 225 slumped 6.08%  while Hong Kong Hang Seng index down 3.39%, with all other stock trackers across the Asian pacific in the red.

Prominent personalities including Brazil’s Press Secretary and Wife to the Canadian Prime Minister alongside  Arsenal’s manager and a Chelsea FC player have tested positive for the COVID-19.