Asia stocks on guard as caution on China virus continues

TOKYO - Stocks made a barely positive start in early Asian trade on Friday after the world's health body called it a little too early to declare a coronavirus outbreak a global emergency.

Early gains in Tokyo fizzled and Hong Kong opened flat, while shares in Sydney ticked higher. Markets in mainland China and South Korea are shut, and Hong Kong closes early, for Lunar New Year holidays. MSCI's broadest index of Asia-Pacific shares outside Japan rose a marginal 0.1 per cent, while Japan's Nikkei stood flat and Australian stocks added 0.4 per cent.

"Investors are worried that the outbreak of coronavirus will dampen consumption in China when the Chinese economy has been already cooling down," said Yasuo Sakuma, chief investment officer at Libra Investments.

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The Straits Times /  🏆 8. in AU

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