Coronavirus News Asia

Stocks tumble in Japan, Australia on earnings, trade concerns

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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 Amazon.com 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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