Asian equity benchmarks were trading bearish in early deals on Tuesday, as continued worries about China virus dulled the investors’ sentiment. Markets in Hong Kong, Taiwan and mainland China were closed today for Lunar New Year holidays. Chinese authorities extended the public holiday for the Lunar New Year by an extra three days to limit public gatherings. The virus has spread to a dozen countries, including the US. Besides, the threat to people’s lives and health, investors are worried about how much damage the virus will do to profits for companies around the world. Japan's Nikkei is steeply narrowing with firmer safe-haven yen in line with the negative US stock market overnight. Among the other Asian markets, Japan, Singapore, South Korea, Indonesia and Malaysia are in negative trend.
Nikkei 225 down 188.35 points or 0.81% to 23,155.16, Straits Times narrowed 83.89 points or 2.59% to 3,156.13, KOSPI Index trimmed 70.46 points or 3.14% to 2,175.67, Jakarta Composite contracted by 60.23 points or 0.98% to 6,072.98 and FTSE Bursa Malaysia KLCI slipped by 18.14 points or 1.15% to 1,554.67.
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