Asian Markets Mixed As Coronavirus Cases Rise To Over 40K

Markets in Hong Kong and Japan fell on Monday amidst fears that the number of patients suffering from coronavirus continues to rise. Markets in mainland China, however, held steady.

What Happened

Confirmed cases of coronavirus rose to 40,171 by the end of Sunday, with 908 fatal cases, according to China’s Xinhua News Agency. China reported 3,062 new cases in the 24 hours alone on Sunday, a 15% increase from Saturday.

Meanwhile, 60 more incidents of the virus have been confirmed aboard the Diamond Princess, a cruise ship docked in Yokohama, Japan. This brings the number of cases on board to 130. The total number of people who have contracted the disease in Japan now stands at 160.

The People’s Bank of China continued to keep liquidity flush on Monday through reverse-purchase agreements. The central bank added CNY 900 billion ($129 billion) into the financial system. 

Asian Stocks

Stocks in Asia, except China, declined as investors continued to monitor the virus epidemic. Here is how Asian stocks performed at press time:

China’s Shanghai Composite index traded marginally higher by 0.51% at 2,890.49 in the post-lunch session. The Shenzhen Component Index was higher by 1.10% at 10,728.46.

Hong Kong’s Hang Seng Index fell 0.59% at 27,241.34., while Japan’s Nikkei Index went down 0.60% to 23,685.98 in the post-lunch session. Seoul’s KOSPI index fell 0.49% at 2,201.07.