Australia: Shares extend losses as virus fears linger; NZ down

The S&P/ASX 200 index closed down 1.6 per cent at 6,866.70, after tumbling as much as 2.6 per cent in early trading.[SYDNEY] Australian shares on Tuesday added to the heavy losses in the previous session as investors remained on edge over the rapid spread of the coronavirus outside China and its impact on global economic growth.

Sentiment was also hit after Prime Minister Scott Morrison warned that his government might be unable to deliver Australia's first budget surplus in over a decade due to the economic impact of the outbreak. The S&P/ASX 200 index closed down 1.6 per cent at 6,866.70, after tumbling as much as 2.6 per cent in early trading. The benchmark declined 2.3 per cent on Monday.

Kuwait, Bahrain, Oman, Afghanistan and Iraq reported their first virus cases, while Italy and South Korea struggled with a jump in the number of coronavirus cases. "There were also jitters that any pandemic-type spread could cripple global supply chains and wreak far greater economic damage than initially forecasted," analysts at Phillip Futures said in a note.

Singapore Latest News, Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Australia, NZ shares drop as virus spread beyond China rattles sentimentAustralia, NZ shares drop as virus spread beyond China rattles sentiment
Source: BusinessTimes - 🏆 15. / 51 Read more »

Australia: Shares fall most since mid-August on coronavirus fearsRead more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Asia shares slide, gold surges as coronavirus spread raises pandemic fearsSYDNEY (REUTERS) - Asia shares and oil tumbled on Monday (Feb 24) while safe-haven gold soared to a seven-year high as the spread of the coronavirus outside China accelerated with sharp rises in infections in South Korea, Italy and Iran, raising pandemic fears.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »

Health insurer shares pummeled by Sanders surge, virus worriesAs concerns over the spreading coronavirus outbreak hammered U.S. stocks, one corner of the market was confronted with another potentially ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Warren Buffett shares an unfortunate story that reflects Berkshire Hathaway's incredible scopeBerkshire’s businesses appear to be tripping over each other. YahooFinance
Source: YahooSG - 🏆 3. / 71 Read more »

Shares drop, gold surges as investors scurry for safetyGlobal shares and oil slid on Monday while safe-haven gold surged as the spread of the coronavirus outside China darkened the outlook for world ... Startups AsiaInvest Philippines Manila Tequila ✨🍹 tequilacomisario investing Let us know,send your inquries now
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »