Benchmarks in Tokyo, Hong Kong and Sydney retreated and London and Frankfurt opened lower. Shanghai advanced.Bond markets are"sounding a warning on global growth” as virus fears spread to South Korea, Singapore and other economies, DBS analysts said in a report.
In early trading, the FTSE 100 in London sank 0.5% to 7,402.58 and Frankfurt's DAX lost 0.4% to 13,606.41. France's CAC 40 tumbled 0.6% to 6,019.63. Gold touched its highest price since early 2013, gaining $14.50 to $1.634.30. The 10-year Treasury’s yield sank to 1.49% from 1.57% late Wednesday. The Korea Centers for Disease Control and Prevention said 41 of the new 52 cases were in the southeastern city of Daegu and the surrounding region.
The decline"underlines that the coronavirus has started to weaken activity, ” Marcel Thieliant of Capital Economics said in a report.
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Asian stocks mixed after Wall Street rises to recordTOKYO (AP): Shares were mixed Thursday (Feb 20) in Asia after Wall Street recovered to record highs, with the Shanghai benchmark jumping nearly 2% after China's central bank cut interest rates to help ease credit for companies stricken by the virus outbreak centered on the city of Wuhan.
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