Australia’s stock exchange falls 2% on opening as investors flee on fears of coronavirus spread. Follow live news
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Factory activity in China contracted at the fastest pace ever in February, even worse than during the global financial crisis, highlighting the colossal damage from the coronavirus outbreak on the world’s second-largest economy, Reuters reports.
China’s official Purchasing Managers’ Index (PMI) fell to a record low of 35.7 in February from 50.0 in January, the National Bureau of Statistics said, well below the 50-point mark that separates monthly growth from contraction.
Trading has started in Tokyo where the Nikkei is down 1.3% in the first few minutes.
It’s not all bad though – the Kospi index in Seoul is up 0.5%.
Japanese markets just opened, and the Nikkei is down 1.3% amid further global spread of the Coronavirus. pic.twitter.com/cIvqBzGLTf
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