Asia Pacific stocks sink amid fears of coronavirus resurgence

Asian Stocks
Asian Stocks Fall Worries Investors

Shares in the Asia Pacific region fell on Wednesday, tracking losses on Wall Street and in European bourses, amid fears of a new wave of the Covid-19 pandemic.

Japan’s benchmark Nikkei 225 Stock Average plunged 2 per cent for the second straight trading day of decline, as surging coronavirus infections sparked fears of resurgence and new restrictions.

The Nikkei lost 591.83 points, or 2.03 per cent, to close at 28,508.55, after falling 1.97 per cent on the previous day.

The broader Topix index was down 38.07 points, or 1.98 per cent, to 1,888.18 on the day.

The western prefecture of Osaka asked the government on Tuesday to issue another coronavirus state of emergency, as its hospitals have been “extremely strained” by the pandemic, Governor Hirofumi Yoshimura said.

South Korea’s Kospi index shed 49.04 points, or 1.52 per cent, to end at 3,171.66.

Australia’s benchmark S&P/ASX200 index fell 0.29 per cent on the day and the broader All Ordinaries index closed down 0.32 per cent.

Hong Kong’s Hang Seng Index tumbled 497.34 points, or 1.7 per cent, to trade at 28,638.39, while the Shanghai Composite Index edged up 1.14 points, or 0.03 per cent, to 3,474.09.

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