After the United States and Canada warned against travel to China, Australian stocks resumed trading sharply lower after a public holiday. The benchmark S&P/ASX 200 index fell 1.4% weighed by stocks exposed to the illness that has killed more than 100 people and infected more than 2,700.
“Obviously we hope that the measures that have been taken now will contain the virus but it’s still far too early. It will have an obvious negative effect on the Australian economy and indeed beyond,” added Costello, a former Australian treasurer. Japanese travel company H.I.S., which owns an amusement park popular with Chinese tourists in Nagasaki, has tumbled more than 14% since early last week.
Traders meanwhile pointed to companies which might generate sales from efforts to curb the spread of coronavirus as investment prospects.
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China virus sends shockwaves through Asia tourist industry | Malay MailTOKYO, Jan 27 — A deadly virus that has prompted travel restrictions in China is sending shockwaves through Asia’s tourism industry, which has become increasingly reliant on growing numbers of Chinese visitors. At least 81 people have died since the new strain of coronavirus emerged in...
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Kobe Bryant: He built a business empire in US, Europe and Asia extending far beyond basketballEighty-one points in his prime and 60 on his way into retirement. Five NBA championships title with the 18 All-Star appearances representing them, 15 All-NBA honours, two jerseys hanging in the rafters - No. 8 and No. 24. And the number that will haunt Los Angeles and the world - only 41 years old. Who edited this piece? Please quit now.
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