FILE PHOTO: A man wearing a face mask is seen inside the Shanghai Stock Exchange building, as the country is hit by a novel coronavirus outbreak, at the Pudong financial district in Shanghai, China February 28, 2020. REUTERS/Aly Song
China’s blue-chip index slipped 1% following a strong rally in recent days, while Hong Kong’s Hang Seng was off 0.9%.While emerging markets found some support from the low-yielding environment and a weaker U.S. dollar, worries about the economic hit from the pandemic kept investors jittery, analysts said.
On Tuesday, both the S&P 500 and Nasdaq Composite set records soon after the opening bell, helped by strong sales growth reported by major U.S. retailers including Walmart, Kohl’s and Home Depot. Market optimism was also buoyed by data showing an acceleration in U.S. homebuilding to the most in nearly four years in July, signifying that the housing sector is emerging as one of the few areas of strength.
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