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 Emerging market stocks fell on Wednesday,
on track for their longest losing streak since August 2019, as
the rising death toll from the coronavirus outbreak fanned fears
of an economic slowdown in the world's second-biggest economy.
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Hong Kong-listed gaming stocks took a beating on Wednesday as official data showed mainland visitor arrivals to Macao plummeting during the Lunar New Year holiday period.
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 (Bloomberg) -- It could have been a lot worse for Hong Kong's big market reopen as investors sought to gauge the widening impact of the coronavirus on China's economy.The Hang Seng Index fell as much as 3% Wednesday on the first day of trading after the Lunar New Year. Though that was briefly its worst slide on a closing basis since October 2018, the index steadied to end the day 2.8% lower -- matching its loss from Jan. 21. Meanwhile, the offshore yuan strengthened 0.1% to 6.9587 per dollar.While the stock declines were steep -- especially for landlords, travel firms and casinos -- they were by no means unusual for a market that's been walloped by trade tensions and violent protests in the past year. Before today, the Hang Seng Index had on 20 occasions closed at least 1.5% lower since the start of 2019, compared to just 10 times for the S&P 500 Index. A 6.5% loss in FTSE China A50 Index futures since Friday had also set traders up for a more painful reopen.Airlines Scramble to Cancel China Flights as Virus SpreadsTraders said higher-than-average volume helped limit volatility, despite trading links with onshore markets being shut due to the extended holiday in mainland China. It marked the first time since Friday morning that the city's traders could catch up with the risk-off sentiment that has dominated global markets. For some, that meant buying stocks on the cheap on speculation that the economic impact from the virus outbreak will be contained. For others, that's still a dangerous bet to make."It sho
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 Asian shares fell on Wednesday as a spike in new Chinese virus cases sent Hong Kong stocks tumbling and added to worries about the economic impact of the outbreak.
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Asian shares fell on Wednesday as
a spike in new Chinese virus cases sent Hong Kong stocks
tumbling and added to worries about the economic impact of the
outbreak.
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Financial hub reopens as US and Japan evacuate nationals from city at centre of outbreak
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RELATED ARTICLES | | |
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A whopping $200 billion was wiped
from European stocks at the start of this week as the deadly
coronavirus prompted investors to cut back exposure to companies
with a strong presence in China, the world's fastest-growing
consumer market.
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Asian shares erased earlier gains on Wednesday, swinging into negative territory as a spike in new Chinese virus cases sent Hong Kong stocks tumbling and fueled fears about the economic impact of the outbreak.
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See which stocks are posting big moves after the bell.
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RELATED ARTICLES | | |
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Asian shares erased earlier gains
on Wednesday, swinging into negative territory as a spike in new
Chinese virus cases sent Hong Kong stocks tumbling and fuelled
fears about the economic impact of the outbreak.
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There are too many unknowns about the worsening coronavirus outbreak to start buying stocks after Monday's worst market slide since October, said CNBC's Jim Cramer.
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 U.S. stocks and oil prices tumbled Monday as fears over the spread of a deadly outbreak of coronavirus rattled investors.
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