Asia markets recover with investors eyes on coronavirus

Asia markets mostly rebounded on Wednesday after tumbling a day before, with investors closely eye  China’s progress in returning to work as the country deals with the coronavirus outbreak.

Hong Kong’s Hang Seng index rose 0.47% in the afternoon. The city reported its second coronavirus death, marking the sixth fatality outside mainland China.

Mainland Chinese stocks erased earlier gains to decline by the close. The Shanghai composite lost 0.32% to 2,975.40, and the Shenzhen component declined 0.63% to 11,235.60. The Shenzhen composite slid 0.55% to close at 1,846.40.

Japan’s Nikkei 225 returned to positive territory, jumping 0.89% to close at 23,400.70 after slipping more than 1% the day before. The Topix was up 0.37% to 1,671.86.

On Monday, data showed Japan’s growth declining much worse than expected, shrinking the fastest in six years. Its outlook was also dimmed by the impact of coronavirus hitting the economy.

source: CNBC