Asia Stocks Mostly Trade Lower as Cases and Deaths from Coronavirus Continue to Increase

Stocks in Asia mostly declined in the morning session on March 23, 2020, as fears over the coronavirus outbreak still tormenting sentiment in the market.

 

As of 9:16 (GMT+7) local time in Thailand, SSEC declined 2.09%, HSI plunged 3.74%, ASX 200 fell 7.03%, Kospi dropped 4.64% while Nikkei was slightly up 0.86%.

Over 300,000 people have been infected worldwide from the virus with more than 13,000 deaths. Italy had turned into an epicenter of the spread with more than 53,000 confirmed cases and over 5,000 deaths.

Many analysts had forecasted that the world economy will decline significantly in the second quarter, jobs will be lost, however, it will slowly pick up in July.