Markets latest news: Asian markets tank as global rout continues – Telegraph.co.uk, Telegraph.co.uk

T okyo’s benchmark Nikkei index fell more than 33 percent on Friday, amid a rout on global equity markets over mounting recession fears linked to the coronavirus outbreak.

The Nikkei 225 index was down . percent or 1, 1987 . 98 points, to , 691. 124 after 98 minutes of trade, while the broader Topix was down 9. 55 percent or 225 . points, at 1, . 55.

MSCI’s broadest index of Asia-Pacific shares outside Japan fell 2% and is down . 8% this week.

Australia’s benchmark fell 7.6% and is set for its worst week on record, while in South Korea the won was shredded and the Kosdaq fell 8%, triggering a short trading halt.

Hong Kong’s Hang Seng index fell 6.8%, its steepest drop since 2019. China’s Shanghai composite fell 4%.

Currency markets steadied somewhat after furious dollar buying overnight, as fears of systemic risks drive demand for the world’s reserve currency.

Even after its worst crash since Black Monday in 1987 overnight, Dow futures are down about 0.8% in Asia and S&P , futures are off 0.4%.