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Coronavirus live updates: Asian stocks face decrease

Komal FatimaWeb Editor

13th Mar, 2020. 12:56 pm
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Coronavirus live updates: Asian stocks face market decrease

Asian shares have caused the fall of global markets as investors fear coronavirus will disrupt economic growth.

According to the international news agency, Asian shares across countries such as Japan, Hong Kong, and China, have plunged the morning trading.

Sources said that the Dow and S&P in the US having they’re biggest one-day reductions since 1987.

Investors said that emergency actions around the world would not be enough to handle the decline.

According to the international news agency, in early afternoon trading, Japan’s benchmark Nikkei 225 was 8.5% lower, the Hang Seng in Hong Kong was down by 5.8%, and China’s Shanghai Composite had lost 3.3%. Trading in India’s Nifty 50 stock index was halted on Friday morning after it fell 10% and hit a “circuit-breaker”.

The sell-off gathered pace on Thursday after US President Donald Trump startled investors when he restricted travel from Europe, and the European Central Bank disappointed markets by holding back on rate cuts.

James Tao, an analyst at stockbroker Commsec in Sydney, informed, “There is a sense of fear and panic,”

“It’s one of those situations where there is so much uncertainty that no-one quite knows how to respond… if it’s fight or flight, many people are choosing flight at the moment,”

Trading Shares halted for 3rd time as KSE 100 index falls 20%

Trading Shares halted for the third time this week, crashing Pakistan Stock Exchange on Friday sending Benchmark KSE 100 index down to 20%

The Pakistan Stock Exchange crashed in early hours as the business day started, the index down to 20 percent from its highest this year.

The index fell 1600 points on Friday.

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