Coronavirus News Asia

Stocks tumble in Japan, Australia on earnings, trade concerns


Japanese and Australian markets fell after earnings concerns and threats by US President Donald Trump to impose fresh tariffs on China rattled investors with most of Asia shut for a holiday.

Although technology leaders like Microsoft and Facebook posted strong earnings, sentiment was rattled by Apple’s pandemic-hit earnings and a warning by of a loss in the second quarter.

Japan’s Nikkei 225 fell 2.84% and Australia’s S&P ASX 200 tumbled 5% with investors fleeing to the safety of US Treasuries with the benchmark 10-year Treasuries yields down 3 basis points to 0.61%.

Trade war jitters reemerged as Trump threatened China with fresh tariffs as he stepped up his attacks on Beijing over the coronavirus crisis, saying he had seen evidence linking a Wuhan lab to the contagion.

See: Trump says evidence ties China lab to virus

Beijingers rush at chance to get away as alert level lowered

India faces rating downgrade: Nomura


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