Stephen Innes, Asia Pacific Market Strategist at AxiCorp, says markets were spooked by virus clusters breaking out "all over" Korea, with with Japan not far behind.
"But of all the alarming aspects of the rapidly spreading virus out Wuhan is that it's showing up in patients with no connection to China or the city of Wuhan ... suggesting things are about to get extremely problematic, and market conditions could get exponentially worse this week." BlueScope Steel warned of a heavy impact from the virus and its shares were hammered, falling $1.12, or 8.17 per cent, to $12.59 after it posted a 70 per cent drop in interim profit.
Gold is up
Wow, that will stimulate economy as well as pathetically low interest rates... not
I guess that will be good for our exports?