Asian shares recover from losses sparked by the coronavirus outbreak
Asian shares recovered a little ground Wednesday after a new virus originating in China drove markets into the red earlier this week and disrupted plans for the millions of people traveling over the Lunar New Year.
- China’s Shanghai Composite ( ) was last up 0.4%, reversing earlier losses.
- The index had fallen more than 1% Wednesday morning.
- Hong Kong’s benchmark Hang Seng Index ( ) moved up 1.1% after recording its worst day in more than five months.
- South Korea’s Kospi ( ) was up 1.2%, while Japan’s Nikkei 225 ( ) was 0.6% higher.
- The MSCI Asia Pacific Index increased 0.6% to 173.57.
- The British pound was little changed at $1.3045.
- The euro was little changed at $1.1078.
- The Japanese yen weakened 0.1% to 109.98 per dollar.
- The Swiss franc weakened 0.3% to $0.9712.
- The yield on 10-year Treasuries advanced one basis point to 1.78%.
- Germany’s 10-year yield advanced less than one basis point to -0.25%.
- Britain’s 10-year yield climbed less than one basis point to 0.633%.
- Japan’s 10-year yield dipped less than one basis point to 0.002%.
- West Texas Intermediate crude fell 0.7% to $57.96 a barrel.
- Gold weakened 0.2% to $1,554.67 an ounce.