Asian shares saw gains on Tuesday as investors continued to weigh the economic impact of the ongoing coronavirus outbreak which has already taken more than 1,000 lives.
Asian Shares
- Hong Kong’s Hang Seng index led gains among major markets regionally as it surged 1.37% as of its final hour of trading.
- Mainland Chinese stocks saw gains on the day, with the Shanghai composite up 0.39% to around 2,901.67 and the Shenzhen component advancing 0.37% to 10,768,63. The Shenzhen composite rose marginally to approximately 1,758.02.
- South Korea’s Kospi gained 1% to close at 2,223.12 with shares of LG Chem surging 6.85%.
- The S&P/ASX 200 in Australia finished its trading day 0.61% higher at 7,055.30 as almost all sectors gained. Shares of medical device firm Cochlear, however, tumbled 3.39% after the company reduced its outlook for fiscal year 2020 due to the outbreak’s impact in the Greater China region, one of the main markets for the company.
- Overall, the MSCI Asia ex-Japan index jumped 0.95%.
- Markets in Japan were closed on Tuesday for a holiday.
Currencies
- The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 98.867 after seeing an earlier high of 98.877.
- The Japanese yen traded at 109.89 per dollar, off levels below 108.6 seen last week.
- The Australian dollar changed hands at $0.6713 after touching an earlier low of $0.6679.
Oil Prices
- Oil prices jumped in the afternoon of Asian trading hours, with international benchmark.
- Brent crude futures up 1.22% to $53.92 per barrel. U.S. crude futures also gained 1.09% to $50.11 per barrel.
Source cnbc.com
