Asian stocks jump despite coronavirus worries

Wednesday, 22. January 2020 07:29

Asian markets traded significantly higher on Wednesday as investors digested corporate earnings and continued to focus on the outbreak of the coronavirus which has killed nine people. Chinese National Health Commission said that 440 cases of the virus have been reported and that the authorities are working on containing the disease in the city of Wuhan, which is believed to be the ground zero of the virus. On the earnings front, Hyundai topped estimates as it reported an 11% rise in revenue in the fourth quarter.

The Nikkei 225 closed 0.70% higher and South Korea's Kospi jumped 1.24% at 7:24 am CET. The dollar increased 0.21% against the yen to sell for 110.0380 at 7:26 am CET.

Hong Kong's Hang Seng rallied 1.19% at 7:25 am CET. In mainland China, the Shanghai Composite added 0.49% at 7:24 am CET and the Shenzhen Composite was up 0.82% at 7:10 am CET.

In Australia, the S&P/ASX 200 rose 0.94% at the end of the session.

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Breaking the News / NP