Corona Virus
Stay Safe, FollowGuidance
Fetching Location Data…
James Hyerczyk

The major Asia Pacific stock indexes closed higher on Wednesday as investors continued to downplay the impact of the coronavirus on the global economy. Buyers may have been driven by reports of a slowdown in the spread of the virus, and comments from a top coronavirus official, who said the outbreak is likely to peak by the end of March.

In Japan, the Nikkei 225 Index settled at 23861.21, up 175.23 or +0.74%. South Korea’s KOSPI Index finished at 2238.38, up 15.26 or +0.69% and Hong Kong’s Hang Seng Index closed at 27823.66, up 239.78 or +0.87%.


China’s Shanghai Index settled at 2926.90, up 25.22 or +0.87% and Australia’s S&P/ASX 200 Index finished at 7088.20, up 32.90 or +0.47%.

Experts Clash over Coronavirus Outlook

While Chinese health officials said the situation was under control, the World Health Organization (WHO) warned the epidemic posed a global threat potentially worse than terrorism.

China’s foremost medical adviser on the coronavirus outbreak, Zhong Nanshan, said on Tuesday numbers of new cases were falling in some provinces and forecast the epidemic would peak this month.

“I hope this outbreak or this event may be over in something like April,” Zhong, and epidemiologist whose previous forecast of an earlier peak turned out to be premature, told Reuters.

The world must “wake up and consider this enemy virus as public enemy number one,” WHO chief Tedros Adhanom Ghebreyesus told reporters on Tuesday, adding the first vaccine was 18 months away.


Japan’s SoftBank Shares Surge on Sprint/T-Mobile Merger Decision

On Wednesday, SoftBank’s shares surged to their highest price in seven months, buoyed by news that a U.S. federal judge had rejected an antitrust challenge to the proposed takeover of subsidiary Sprint Corp. by T-Mobile US Inc.

SoftBank saw its shares open 12.5% higher in Tokyo on Wednesday, ending the morning trade up 13.7% at 5,843 yen.

SoftBank Group Quarterly Profit Wiped Out by Vision Fund Losses

Japan’s SoftBank Group Corp said on Wednesday its third-quarter operating profit fell 99%, well short of analyst estimates, pulled down by a second consecutive quarter of losses at the $100 billion Vision Fund.

RBNZ Leaves Rates Unchanged, Issues Hawkish Policy Statement

The RBNZ held rates at record lows on Wednesday, as expected, but sounded more confident on the economic outlook and dropped previous references to the chance of future cuts, sending the Kiwi soaring. The central bank also raised the forecast path for rates this year to 1%, from 0.9% previously, removing the chance of a cut.

Don't miss a thing!
Discover what's moving the markets. Sign up for a daily update delivered to your inbox

Trade With A Regulated Broker

  • Your capital is at risk
The content provided on the website includes general news and publications, our personal analysis and opinions, and contents provided by third parties, which are intended for educational and research purposes only. It does not constitute, and should not be read as, any recommendation or advice to take any action whatsoever, including to make any investment or buy any product. When making any financial decision, you should perform your own due diligence checks, apply your own discretion and consult your competent advisors. The content of the website is not personally directed to you, and we does not take into account your financial situation or needs.The information contained in this website is not necessarily provided in real-time nor is it necessarily accurate. Prices provided herein may be provided by market makers and not by exchanges.Any trading or other financial decision you make shall be at your full responsibility, and you must not rely on any information provided through the website. FX Empire does not provide any warranty regarding any of the information contained in the website, and shall bear no responsibility for any trading losses you might incur as a result of using any information contained in the website.The website may include advertisements and other promotional contents, and FX Empire may receive compensation from third parties in connection with the content. FX Empire does not endorse any third party or recommends using any third party's services, and does not assume responsibility for your use of any such third party's website or services.FX Empire and its employees, officers, subsidiaries and associates, are not liable nor shall they be held liable for any loss or damage resulting from your use of the website or reliance on the information provided on this website.
This website includes information about cryptocurrencies, contracts for difference (CFDs) and other financial instruments, and about brokers, exchanges and other entities trading in such instruments. Both cryptocurrencies and CFDs are complex instruments and come with a high risk of losing money. You should carefully consider whether you understand how these instruments work and whether you can afford to take the high risk of losing your money.FX Empire encourages you to perform your own research before making any investment decision, and to avoid investing in any financial instrument which you do not fully understand how it works and what are the risks involved.