Elsewhere in Asia, Japan’s Nikkei 225 index lost 1 per cent to 22,971.13, while the S&P ASX/200 declined 1.6 per cent to 6,902.10. In South Korea, the Kospi declined 0.6 per cent to 2,105.46. However, Hong Kong’s Hang Seng, which has many mainland Chinese heavyweights, climbed 0.3 per cent to 26,370.78.
Worries over the potential harm to businesses and trade from the outbreak have triggered wide swings in share prices around the globe. Regulators have also urged banks and other financial institutions to boost lending and avoid calling in debts in areas severely affected by the pandemic.Some cities, particularly the central Chinese city Wuhan where the disease first surfaced and cities nearby, are in lockdown. Shanghai authorities extended the Lunar New Year holiday until Feb. 9. Chinese universities and many schools remain closed for now.
A large share of the 1.2 trillion yuan to be injected into markets will go to meeting payment obligations falling due on Monday, analysts said.“This is well beyond the band-aid fix, and if this deluge doesn’t hold risk-off at bay, we are in for a colossal beat down,” Stephen Innes of AxiCorp. said in a client note Sunday.“It’s not the earthquake at the open but rather the aftershocks that will drive risk sentiment on Monday,” he said.
Just two weeks ago, the S&P 500 had closed at an all-time high, having climbed around 13 per cent since early October. A preliminary trade deal signed by the U.S. and China earlier in the month eased a big source of uncertainty in the markets. Volatility was running at 12-month lows and even a dust up between the U.S. and Iran didn’t rock markets.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Nova Scotia’s lobster industry fears prolonged effects of coronavirus outbreak as exports halted, prices dropAs travel restrictions and lockdowns in some cities were imposed in China in an effort to contain the virus, known as 2019-nCoV, lobster orders dried up almost overnight Send them west, I'll do my best to help out by eating as many as possible. Sell them to canadians Nothing you can do about it is there? Just wait it out
Source: globeandmail - 🏆 5. / 92 Read more »
This Montreal family vacationing in China fears leaving one member behindA Montreal family visiting China has been forced to extend their stay because of the coronavirus and fear that one of them will be forced to stay behind indefinitely. The decision to not split the family is within their control! If I had the power I would stay behind with my husband. I wouldn’t leave and split the family. That’s just me. If it was just the 2 of them - stay with the husband and hope for the best. Once you have children - they are the priority. Get the kids out of harm's way. It's heartbreaking, but imagine the heartbreak if kids got sick or worse because you decided to stay together.
Source: CTVNews - 🏆 1. / 99 Read more »
Honda plans to resume Wuhan plant production with Dongfeng on February 14Honda plans to resume Wuhan plant production with Dongfeng on February 14 GlobeBusiness
Source: globeandmail - 🏆 5. / 92 Read more »
How To Keep Your Kids, Other Parents And Yourself Calm About CoronavirusEven if you take a calm, rational approach to coronavirus, not everyone else will.
Source: HuffPostCanada - 🏆 61. / 53 Read more »
At least 300 Canadian evacuees from Wuhan to be quarantined for two weeks at TrentonMore than 300 Canadians request flights out of Wuhan as coronavirus begins to kill outside China lambert_pp Good
Source: VancouverSun - 🏆 49. / 61 Read more »
CTV National News: Rising fear over coronavirusTravel bans by the U.S. and Australia are among the drastic measures being implemented in response to the coronavirus outbreak. MollyThomasTV reports: MollyThomasTV JustinTrudeau follow suit MollyThomasTV Not in Canada, where we still have hundreds of flights weekly. diversityisourstrength MollyThomasTV Not drastic... Imperative!!
Source: CTVNews - 🏆 1. / 99 Read more »