www.varchev.com

Sell offs in Asia, gaming and autos sectors are the biggest losers because of the coronavirus

Markets across Asia are red. Investors are expecting China’s balance of trade data, imports and exports. The data was supposed to be released at 05:00 Bulgarian time, but there is a significant delay.

Shanghai Composite is down 0.76%, Shenzhen Composite is down 0.34% and Shenzhen Component is down 1%.

In Hong Kong, Hang Seng’s decline is within 0.90%.

Casino stocks were hit hardest after Macau decided to close its casinos because of the coronavirus epidemic. Melco International is down more than 3% and Wynn Macau is down 2%. Galaxy Entertainment is down 1.64%.

Market participants remain pending on economic data from China in January. Previous December figures were better than expected.

Elsewhere, the Nikkei225 also lags behind, already up 0.16% and Topix 22%.

Kospi is down 0.71%.

In Japan and South Korea, the automotive sector is losing ground. Mazda is down nearly 3%, Honda down 1.52%. Korea’s Hyundai crashes by more than 1.52%.

The reductions come after news that Hyundai Motors will reduce its exports of cars due to disrupted deliveries as a result of the virus crisis. Honda has a closed plant in China.

In Australia, the ASX200 is down 0.42%. The mining and energy sectors are driving losses in Australia.

The broad MSCI Asia-Pacific ex-Japan index is down 0.59%.


 Trader Martin Nikolov


Read more:
RECCOMEND WAS THIS POST USEFUL FOR YOU?
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.
WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.
Varchev Finance