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Asian markets surge as coronavirus fears fade
By Marketwatch
Published: Feb 5, 2020 11:53 pm ET
Indexes in Tokyo, Hong Kong, Shenzhen, Seoul up around 2%
People line up to buy masks in Hong Kong’s Kowloon Bay district on Wednesday.
Asian markets rose in early trading Thursday on optimism that the coronavirus outbreak would be contained.
Markets got an unexpected boost later in the day as China announced it was cutting tariffs on $75 billion in U.S. goods in half.
On Wednesday, there were unconfirmed reports that researchers had made breakthroughs toward developing a vaccine, but the World Health Organization said there are still no known effective therapeutics against the coronavirus.
U.S. health officials said it is too soon to say when the outbreak may peak. “We’re preparing as if this is a pandemic,” said Dr. Nancy Messonnier of the Centers for Disease Control and Prevention, according to the Associated Press.
China reported Thursday that the number of confirmed cases had risen to more than 28,000, with 563 deaths.
Still, traders appeared confident that the economic impact of the outbreak would be contained and short-lived.
https://www.marketwatch.com/story/asian-markets-surge-as-coronavirus-fears-fade-2020-02-05
By Marketwatch
Published: Feb 5, 2020 11:53 pm ET
Indexes in Tokyo, Hong Kong, Shenzhen, Seoul up around 2%
People line up to buy masks in Hong Kong’s Kowloon Bay district on Wednesday.
Asian markets rose in early trading Thursday on optimism that the coronavirus outbreak would be contained.
Markets got an unexpected boost later in the day as China announced it was cutting tariffs on $75 billion in U.S. goods in half.
On Wednesday, there were unconfirmed reports that researchers had made breakthroughs toward developing a vaccine, but the World Health Organization said there are still no known effective therapeutics against the coronavirus.
U.S. health officials said it is too soon to say when the outbreak may peak. “We’re preparing as if this is a pandemic,” said Dr. Nancy Messonnier of the Centers for Disease Control and Prevention, according to the Associated Press.
China reported Thursday that the number of confirmed cases had risen to more than 28,000, with 563 deaths.
Still, traders appeared confident that the economic impact of the outbreak would be contained and short-lived.
https://www.marketwatch.com/story/asian-markets-surge-as-coronavirus-fears-fade-2020-02-05
