^HSI - HANG SENG INDEX
| Previous close | 27,609.16 |
| Open | 27,450.46 |
| Volume | 0 |
| Day's range | 27,264.78 - 27,484.53 |
| 52-week range | 24,899.93 - 30,280.12 |
| Avg. volume | 1,576,747,365 |
- FX Empire
Some Asian Countries on Brink of Recession as Virus Spreads Outside China
Japan and Singapore are on the brink of recession and South Korea on Friday said its exports to China slumped in the first 20 days of February as the outbreak upends global supply chains.
- Associated Press
Asian stocks mixed after Wall Street rises to record
Shares were mixed Thursday in Asia after Wall Street recovered to record highs, but worries persist about damage to the regional economy from the new virus that began in China. Overnight, U.S. stocks shook off their latest virus-induced losses, breaching new record highs. Technology stocks led the rally, as Apple rallied to recover most of its loss from the prior day.
- FX Empire
Asia Pacific Shares Tumble on Apple Guidance Reduction, HSBC Pre-Tax Profit Miss
Apple Inc. said it will not meet its revenue guidance for the March quarter as the coronavirus outbreak slowed production and weakened demand in China. Europe’s largest bank, HSBC, reported a 33% fall in 2019 pre-tax profit to $13.35 billion after it took a goodwill impairment of $7.3 billion.
- FX Empire
Asian Stocks Mostly Higher; Singapore PM Sees Possible Recession from Coronavirus Impact
On Friday, Singapore Prime Minister Lee Hsien Loong said the coronavirus’ economic impact on the island nation’s economy has already exceeded that of SARS in 2003, according to a report by local publication The Straits Times.
- Financial Times
China reports sharp rise in coronavirus cases
The Chinese government on Thursday sacked its top two officials in Hubei, the province at the centre of the coronavirus epidemic, just hours after announcing a sharp rise in new infections and deaths from the disease. Hubei reported 14,840 new cases — a tenfold surge over the number reported on Wednesday, while new fatalities more than doubled to 242. The sudden increase stemmed from changes in the methodology for how officials are counting coronavirus cases.
- FX Empire
Global Equity Markets Lower on Coronavirus Fears; China Makes Moves to Boost Economy
Global equity markets are down on Thursday as investors trim positions in risky assets and move money into the safety of the Japanese Yen.
- FX Empire
Asian Markets Post Solid Gains While Experts Differ on Coronavirus Peak
While Chinese health officials said the situation was World under control, the Health Organization (WHO) warned the epidemic posed a global threat potentially worse than terrorism.
- Financial Times
US stocks notch record high as investors calm nerves over virus
US and European stock indices closed at record highs, while their Hong Kong and Chinese counterparts built on a rebound, as investors calmed their nerves over the coronavirus outbreak that has swept across Asia. On Wall Street, the S&P 500 finished 0.2 per cent on Tuesday, a new peak. The benchmark had been up as much as 0.7 per cent earlier today.
- FX Empire
Asian Shares Boosted by Easing Concerns Over Coronavirus but China Production Worries Remain
Uncertainty about work resuming at factories in China is setting in, with provinces or cities posting different dates for an extended shutdown as the coronavirus outbreak continues to spread.
- FX Empire
Asian Shares Mostly Lower, but China’s Shanghai Index Posts Modest Gain
China’s factory-gate prices snapped six months of year-on-year declines in January, although prolonged business closures from the coronavirus outbreak mean positive momentum is unlikely to persist.
- FX Empire
Asia Pacific Shares See Red on Profit-Taking Ahead of Weekend; China Trade Data on Tap
Some analysts and economists are downgrading China’s GDP growth forecast for 2020 as the coronavirus outbreak hits the world’s second largest economy. Chinese government economist said that the country’s first-quarter economic growth may drop to 5% or even lower.
- FX Empire
Asia Shares Jump after China Announces Tariff Reduction
Retaliatory duties on some U.S. goods will be cut from 10% to 5%, and from 5% to 2.5% on others, according to a statement from China’s Ministry of Finance.
- FX Empire
Asian Shares Nudge Higher as Investors Await Further China Government Stimulus
Stocks were supported by liquidity moves from the People’s Bank of China (PBOC) earlier in the week and reports of a massive upcoming stimulus package from China’s government.
- FX Empire
Australian Shares Rise but Gains Capped by Coronavirus Fears; RBA Hints at April Rate Cut
European markets are expected to open higher on Tuesday as sentiment improves and investors brush aside economic fears over the coronavirus outbreak.
- FX Empire
Asia Stocks Higher in Early Trade, but Buying Remains Tentative
On Monday, the major Asian indexes sank to their lowest in seven weeks on fears the corona virus epidemic would hit demand in China.
- Reuters
Chinese markets, yuan claw back some lost ground after virus-led wipeout
China's currency and stock markets steadied in choppy trade on Tuesday, after anxiety over the spreading coronavirus the previous session hit the yuan and erased some $400 billion (£307.9 billion) in market value from Shanghai's benchmark index. Hong Kong's Hang Seng index , which has shed 9% in a little over two weeks as the coronavirus spread across China and the world from Hubei province, climbed 1% in the morning. The yuan recovered some lost ground, firming 0.2% to 7.0049 per dollar .
- FX Empire
Markets in Search for the Bottom
China A 50 index opened with an 8.5% drop to its lowest level since June 2019 but was able to rebound from those levels.
- FX Empire
China Shares Plunge Nearly 8% as Coronavirus Fears Grow
A nearly 8% plunge on the Shanghai composite index was its biggest daily fall in more than four years.
- FX Empire
China Stocks to Open Sharply Lower – This Won’t Be a ‘Flash Crash’, but Real Selling
I expect Chinese equities to “play catch-up” with the rest of the global indexes. My guess is for a 6-10% lower opening on Monday, February 3.
- FX Empire
Asian Markets Close the Week Sharply Lower Amid Coronavirus Fears
China’s factory activity cooled slightly in January, although officials and analysts warned the drop does not account for the coronavirus outbreak, which is set to test an economy already growing more slowly.
