Tokyo’s Nikkei index drops 2% over China virus fears

Amid rising fears of China’s yet uncontrollable Corona-virus, Tokyo’s benchmark Nikkei index dropped more than 2 per cent Monday on concerns over the potential impact of a new coronavirus that has killed at least 80 people in China.

According to a report The Nikkei 225 index lost 2.03 per cent or 483.67 points to close at 23,343.51, while the broader Topix index fell 1.61 per cent or 27.87 points to 1,702.57.

“Worries over the coronavirus have been strengthening, as it has spread to France, Nepal, Australia, and Malaysia, with investors nervously watching reports about the increasing number of patients,” Okasan Online Securities chief strategist Yoshihiro Ito said in a commentary.

The dollar fetched 109.07 yen in Asian afternoon trade, against 109.23 yen in New York on Friday.

On the other hand The death toll from a viral outbreak in Wuhan, China has risen to 80 people, the Chinese government said on Sunday.

The increase in fatalities came as Chinese officials said the number of those infected by the coronavirus have risen to 2,744.

Wuhan and 16 surrounding cities placed on lockdown, essentially attempting to isolate a population of more than 50 million.

A total of five people in the United Stated are confirmed to have the virus.

Five cases reported in Hong Kong and two in Macao.

Cases scattered in Thailand, Taiwan, Japan, South Korea, Vietnam, Singapore, Malaysia, Nepal, France, Canada and Australia.

Researchers have not yet identified a definitive source for this latest outbreak.

Which like many other viruses can infect multiple species.

One of the first measures taken by Wuhan authorities was to close the Huanan Seafood Wholesale Market, where 41 of the first cases originated.