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Asia report: Stocks slide on coronavirus fears in thin trade

By Frank Prenesti

Date: Monday 27 Jan 2020

(Sharecast News) - Asian shares closed lower on worries over the spread of the coronavirus that had so far killed at least 80 people in China.
With cases of the virus being reported in Australia, France, Malaysia and Nepal investors sold equities albeit in thin volumes due to some markets being closed for the Lunar New Year holiday week. China said it was extending the break to stop the spread.

Japanese shares were lower, with the Nikkei average down 2.03% to 23,343.51, while the Topix index fell 1.61% to 1,702.57.

Travel sector shares were all in the red, with airline ANA down 3.02% and travel agency H.I.S down 6.77%, while car makers were also in the doldrums, with Nissan off 3%, Mazda 2.2%, Honda fell 1.7% and Toyota 1.5%.

Australian markets were closed for the Australia Day holiday, while markets in China, Hong Kong, Malaysia, Singapore, South Korea and Taiwan were also closed.

New Zealand shares closed lower over the coronavirus. The benchmark NZX-50 index fell or 0.59% to 11,807.14. With concerns over Chinese tourists not travelling, Air New Zealand fell 2.4% and Auckland International Airport slipped 1.5%.


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