Investors will continue to watch for developments on the ongoing coronavirus outbreak, where uncertainty remains over when work can resume at factories in China, with certain parts of the country still shuttered for an extended period.Stocks in Australia traded higher in early trade as investors continue to weight the economic impact of the ongoing coronavirus outbreak which has already taken more than 1,000 lives.Markets in Japan are closed on Tuesday for a holiday.
"With China's economy accounting for some 17% of world GDP, but accounting for a significant contribution to growth in the global economy, the risk of a larger downgrade to global growth is clear," Grace said.
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