Asia stocks set to trade lower as investors continue to assess economic impact of coronavirus pandemic

Investors will continue to watch for developments on the global coronavirus outbreak, which has already infected more than 691,000 worldwide and taken at least 32,000 lives, according to the latest data compiled by John Hopkins University. Markets have been volatile in recent weeks, seeing sharp movements in both directions as authorities across the globe announced vast amounts of stimulus to stem the economic impact of the virus.

"The big question for markets is whether the huge stimulus introduced so far across the globe will be enough to help the global economy withstand the economic shock from the COVID-19 containment measures," Rodrigo Catril, a currency strategist at National Australia Bank, wrote in a note. "To answer this question one needs to know the magnitude of the containment measures and for how long they will be implemented," Catril said. This was "unknown" at this point, he said, and suggests that markets are "likely to remain volatile" until the uncertainty is resolved.

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