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Asian markets mixed as number of new COVID-19 cases spikes in China – MarketWatch, Marketwatch.com

Asian markets mixed as number of new COVID-19 cases spikes in China – MarketWatch, Marketwatch.com
                                                                                                                                                                                                                                                                                                                                                                                            

Asian markets came under pressure Thursday as the number of new coronavirus outbreak victims soared in China.

China’s Hubei province reported nearly , (0 new cases of COVID – due to a change in diagnosis methodology, according to a statement by Hubei officials , which was reported by other media outlets such as the New York Times . Chinese officials said the change was made so that more patients could receive treatment, but the new numbers threw more uncertainty at the severity of the outbreak and China’s ability to contain it.

“The China announcement has shaken Asia’s confidence this morning ”and“ has poured a sizeable cold bucket of reality onto investors, ”Jeffrey Halley, senior Asia-Pacific market analyst at Oanda, wrote in a note. “The argument that it was a one-off adjustment versus the integrity of China’s data collection has left Asian stock markets in somewhat of a limbo.”

Japan’s Nikkei                                                                                                                                                                                                                       NIK, – 0. (%)                                                                                                                                                          retreated 0.1% while Hong Kong’s Hang Seng Index                                                                                                                                                                                                                       HSI, – 0. (%)                                                                                                                                                          slipped 0.2%. The Shanghai Composite                                                                                                                                                                                                                       SHCOMP, – 0. %                                                                                                                                                          declined 0.6% and the Shenzhen Composite                                                                                                                                                                                                                       , – 0 . (% )                                                                                                                                                          fell 0.6%. South Korea’s Kospi                                                                                                                                                                                                                       , – 0. 33%                                                                                                                                                          advanced 0.3%, while benchmark indexes in Taiwan                                                                                                                                                                                                                       Y , 0. (% )                                                                                                                                                          , Singapore                                                                                                                                                                                                                       STI, – 0. %                                                                                                                                                          , Malaysia                                                                                                                                                                                                                       (FBMKLCI, – 0.) %                                                                                                                                                          and Indonesia                                                                                                                                                                                                                       JAKIDX, – 0. 90%                                                                                                                                                          were mostly lower. Australia’s S & P / ASX                                                                                                                                                                                                                       XJO, 0. (%)                                                                                                                                                          inched up 0.2%.

Among individual stocks, SoftBank                                                                                                                                                                                                                       , – 5. (%)                                                                                                                                                          and Nissan                                                                                                                                                                                                                       , -1.                                                                                                                                                          fell in Tokyo trading, while Honda                                                                                                                                                                                                                       01575879, 1. %                                                                                                                                                          and Inpex                                                                                                                                                                                                                       , -0. 24%                                                                                                                                                          rose. In Hong Kong, Country Garden                                                                                                                                                                                                                       , 0. (%)                                                                                                                                                          and Tencent                                                                                                                                                                                                                       1093, 0. (%)                                                                                                                                                          advanced, while CSPC Pharmaceutical                                                                                                                                                                                                                       2020, – 1. (%)                                                                                                                                                          and China Life Insurance                                                                                                                                                                                                                       , – 1. 76%                                                                                                                                                          fell. Samsung                                                                                                                                                                                                                       , 0. %                                                                                                                                                          rose in South Korea, while Beach Energy                                                                                                                                                                                                                       BPT , – 3. %                                                                                                                                                          sank in Australia.

On Wednesday, US stocks ended higher , with all three major benchmarks registering all-time closing highs. The Dow Jones Industrial Average                                                                                                                                                                                                                       DJIA, 0. %                                                                                                                                                          rose points, or 0.9%, to end at , , while the S&P                                                                                                                                                                                                                       (SPX, 0. %                                                                                                                                                          added 42. points or 0.7%, to finish at 3, . The Nasdaq Composite Index                                                                                                                                                                                                                       (COMP, 0. 200%                                                                                                                                                          ended at 9, 1605. , a gain of . points, or 0.9%.

Dow Jones Industrial Average                                                                                                                                                                                                                       (YM) , – 0. (%)                                                                                                                                                          futures were down points, or 0.4%, to , .

Benchmark crude oil                                                                                                                                                                                                                       CLH , – 0. 14%                                                                                                                                                          was flat $ 24 a barrel. Brent crude oil                                                                                                                                                                                                                       (BRNJ) , – 0. (%)                                                                                                                                                          , the international benchmark, slipped 0.3% to $ 70. (a barrel.)

The dollar                                                                                                                                                                                                                       USDJPY, – 0. (%)                                                                                                                                                          fell 0.3% to . Japanese yen from yen on Wednesday.

                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             Read More

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